Investor Relations

Credit Ratings

The Toronto-Dominion Bank


	Moody's	S&P	Fitch	DBRS
Deposits/ Counterparty¹	Aa1	A+	AA+	AA
Issuer Rating²	Aa2	A+	AA+	AA
Senior Debt³	A2	A-	AA-	AA (low)
Covered Bonds	Aaa	-	AAA	AAA
Legacy Subordinated Debt (non-NVCC⁴)	A3	A-	A	A (high)
Tier 2 Subordinated Debt (NVCC⁴)	A3 (hyb)	BBB+	A	A (low)
AT1 Perpetual Debt (NVCC⁴)	Baa2 (hyb)	BBB-	BBB+	-
Limited Recourse Capital Notes (NVCC⁴)	Baa2 (hyb)	BBB-	BBB+	BBB (high)
Preferred Shares (NVCC⁴)	Baa2 (hyb)	BBB-	BBB+	Pfd-2
Short Term Debt (Deposits)	P-1	A-1	F1+	R-1 (high)
Outlook	Stable	Stable	Negative	Stable

TD Bank, N.A.


	Moody's	S&P	Fitch	DBRS
Long Term Deposits	Aa3	A+	AA+	AA (low)
Long Term Debt	A2	A+	AA-	AA (low)
Short Term Debt (Deposits)	P-1	A-1	F1+	R-1 (middle)
Outlook	Stable	Stable	Negative	Stable

TD Bank US Holding Company


	Moody's	S&P	Fitch	DBRS
Long Term Debt (Deposits)	A2	A+	-	AA (low)
Short Term Debt (Deposits)	-	-	-	R-1 (middle)
Outlook	Stable	Stable	Negative	Stable

TD South East Asia Limited


	Moody's	S&P	Fitch	DBRS
Long Term Debt (Deposits)	A2	A+	-	-
Short Term Debt (Deposits)	P-1	A-1	-	-
Outlook	Stable	Stable	-	-

¹Represents Moody’s Long-Term Deposits Ratings and Counterparty Risk Rating, S&P’s Issuer Credit Rating, Fitch’s Long-Term Deposits Rating and DBRS’ Long-Term Deposits Rating.

²Credit Ratings applicable to non-bail-in senior unsecured debt.

³Subject to conversion under the bank recapitalization "bail-in" regime.

⁴Non-Viability Contingent Capital.

For further information, please refer to each of the respective rating agency's public website.

Credit ratings should not be construed as a recommendation to buy, sell or hold TD's debt instruments. Ratings may be revised or withdrawn at any time by the rating agencies.

Information as of May 12, 2026.

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