DBRS Republishes Laurentian Bank Rating Report

DBRS Limited (DBRS) has today republished its October 30, 2014, rating report on Laurentian Bank of Canada (the Bank), updated to properly reflect the A (low) intrinsic assessment that was upgraded along with the Bank’s debt ratings.

On October 20, 2014, DBRS upgraded the Bank’s ratings, including its Issuer Rating and Deposits & Senior Debt ratings, to A (low) from BBB (high). Subsequently, on October 30, 2014, DBRS published a rating report that provided additional analytical detail on the rating action. In that report, DBRS’s intrinsic assessment contained within the text of the document was incorrectly listed. The correct intrinsic assessment is A (low), which is equal to the Bank’s long-term ratings because of DBRS’s SA3 support assessment indicating no expectation of timely external support.