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Fitch Ratings Downgrades Four Toronto-Dominion Supported Issues.

Business Editors

Following its downgrade of Toronto-Dominion Bank's long-term senior rating to 'AA-' from 'AA', Fitch Ratings has downgraded its ratings on four bonds supported by letters-of-credit issued by the bank. The affected bonds and their revised ratings are listed below. For additional information, see Fitch's press release dated June 28, 2002 and available on the Fitch Ratings web site at 1-800-853-4824.

--Indiana Municipal Power Agency (IN, var-rate demand pwr supply sys rfdg rev bonds, ser 1998A (LOC: Toronto-Dominion Bank) 'AA-/F1+';

--Jay Street Development Corp. (NY) (NYC - Jay Street Proj), adj-rate court facil lease rev bonds, ser fiscal 2001A-3 (LOC: Toronto-Dominion Bank) 'AA-/F1+';

--New York City (NY), adj-rate GO bonds, ser fiscal 1995F-2 (LOC: Toronto-Dominion Bank) 'AA-/F1+';

--New York City Health & Hospitals Corp. (NY), health sys bonds, ser 1997C (LOC: Toronto-Dominion Bank) 'AA-/F1+'.
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Publication:Business Wire
Date:Jul 2, 2002
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