Standard & Poor's Ratings Services on Friday lowered its outlooks on seven Canadian financial institutions to negative from stable while affirming their ratings
They include the Bank of Nova Scotia, Royal Bank of Canada , Toronto-Dominion Bank , Central 1 Credit Union, Home Capital Group Inc., Laurentian Bank of Canada and National Bank of Canada
"A prolonged run-up in housing prices and consumer indebtedness in Canada is in our view contributing to growing imbalances and Canada's vulnerability to the generally weak global economy, applying negative pressure on economic risk for banks," said S&P in a statement
The Bank of Nova Scotia, Royal Bank of Canada, and Toronto-Dominion Bank are rated AA-; Central 1 Credit Union is rated A+; Home Capital Group is rated BBB; Laurentian Bank of Canada is rated BBB+; and National Bank of Canada is rated A
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DUBLIN—Ireland will need some sort of euro-zone deal to relieve its huge banking debts for it to make further progress toward securing a permanent return to capital markets, the head of the National Treasury Management Agency, the country's debt office, said Sunday.
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