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Moody's downgrades six Canadian banks citing tough operating environment

Published 2017-05-10, 08:09 p/m
© Reuters.  Moody's downgrades six Canadian banks citing tough operating environment
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May 10 (Reuters) - Moody's investor service on Wednesday downgraded the long-term ratings for six Canadian banks, citing a more challenging operating environment for Canadian banks for 2017 and beyond.

Moody's said the six downgraded banks are Toronto-Dominion Bank TD.TO , Bank of Montreal BMO.TO , Bank of Nova Scotia BNS.TO , Canadian Imperial Bank of Commerce CM.TO , National Bank of Canada NA.TO and Royal Bank of Canada RY.TO .

The ratings agency also downgraded ratings for the affiliates of the six banks.

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