DBRS Morningstar Discontinues Rating on TD Legislative Covered Bonds, Series CBL9

DBRS Limited (DBRS Morningstar) discontinued the rating on the Covered Bonds, Series CBL9 (the Series) issued by The Toronto-Dominion Bank (Global Legislative Covered Bond Programme) as the Series was fully repaid.

A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework and its methodologies can be found at: https://www.dbrsmorningstar.com/research/357792.

Notes:
The principal methodology is Rating and Monitoring Covered Bonds (April 27, 2020), which can be found on dbrsmorningstar.com under Methodologies & Criteria.

For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/357883.

For more information regarding structured finance rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/358308.

The rated entity or its related entities did participate in the rating process for this rating action. DBRS Morningstar had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.

This rating is endorsed by DBRS Ratings Limited (DBRS Morningstar) for use in the European Union. The following additional regulatory disclosures apply to endorsed ratings:

The last rating action on this program took place on April 14, 2020, when DBRS Morningstar assigned a AAA rating to the Covered Bonds, Series CBL33.

For further information on DBRS Morningstar historical default rates published by the European Securities and Markets Authority (ESMA) in a central repository, see: http://cerep.esma.europa.eu/cerep-web/statistics/defaults.xhtml.

Lead Analyst: Paul Bretzlaff, Senior Vice President, Canadian Structured Finance
Rating Committee Chair: Tim O’Neil, Managing Director, Head of Canadian Structured Finance

Initial Rating Date: July 16, 2014

For more information on this credit or on this industry, visit www.dbrsmorningstar.com or contact us at [email protected].

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Principal methodology: Rating and Monitoring Covered Bonds (April 27, 2020)
Link: https://www.dbrsmorningstar.com/research/347574/rating-and-monitoring-covered-bonds