DBRS Assigns Rating of A (high) to TD CaTS IV Notes – Series 1 and 2
Banking OrganizationsDBRS has today assigned a rating of A (high) with a Stable trend to the 9.523% TD Capital Trust IV Notes – Series 1 Due June 30, 2108 and the 10.00% TD Capital Trust IV Notes – Series 2 Due June 30, 2108 (collectively, TD CaTS IV Notes) issued by TD Capital Trust IV™, a trust established under the laws of Ontario.
Given the structure of the TD CaTS IV Notes, they rank similarly with Capital Trust Securities (TD CaTS), TD Capital Trust II Securities (TD CaTS II) and TD Capital Trust III Securities (TD CaTS III) issued by TD Capital Trust, TD Capital Trust II and TD Capital Trust III, respectively, which DBRS also rates A (high) with a Stable trend.
The TD CaTS IV Notes represent a cost-effective means of raising Tier 1 capital.
The rating incorporates information from the Short Form Prospectus dated January 15, 2009.
Notes:
All figures are in Canadian dollars unless otherwise noted.
The applicable methodology is Rating Banks in Canada, which can be found on our website under Methodologies.
This is a Corporate (Financial Institutions) rating.