Fitch Ratings Downgrades Four Toronto-Dominion Supported Issues.Business Editors
Following its downgrade Downgrade
A negative change in the rating of a security.
For example, an analyst may downgrade a stock from strong buy to buy, or a bond rating agency may downgrade a bond from AAA to AA. of Toronto-Dominion Bank's long-term senior rating to 'AA-' from 'AA', Fitch Ratings Fitch Ratings
An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. 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 LOC - lines of code : Toronto-Dominion Bank The Toronto-Dominion Bank (TD) (TSX: TD NYSE: TD TYO: 8640 ) is a bank headquartered in Toronto, Ontario, Canada. It is one of Canada's Big Five banks, being the second largest bank in the country by assets and market capitalization. ) 'AA-/F1+';
--Jay Street Development Corp. (NY) (NYC NYC
New York City
NYC New York City - 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+'.