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Credit Ratings

 

The Toronto-Dominion Bank

 

Moody's

S&P

DBRS

Deposits/Counterparty

Aa1

AA-

AA (high)

Legacy Senior Debt1

Aa2

AA-

AA (high)

Senior Debt2

A1

A

AA

Covered Bonds

Aaa

-

AAA

Subordinated Debt

A2    

A

AA (low)

Subordinated Debt - NVCC

A2 (hyb)

A-

A

Preferred Shares - NVCC

Baa1 (hyb)

BBB

Pfd-2 (high)

Limited Recourse Capital Notes – NVCC

Baa1 (hyb)

BBB

A (low)

Short Term Debt (Deposits)

P-1

A-1+

R-1 (high)

Outlook

Stable

Stable

Stable

 

TD Bank, N.A.

 

Moody's

S&P

DBRS

Long Term Deposits

Aa2

AA-

AA

Long Term Debt

A1

AA-

AA

Subordinated Debt

-

A

AA (low)

Short Term Debt (Deposits)

P-1

A-1+

R-1 (high)

Outlook

Stable

Stable

Stable

 

TD Bank US Holding Company

 

Moody's

S&P

DBRS

Long Term Debt (Deposits)

A1

AA-

AA

Short Term Debt (Deposits)

-

-

R-1 (high)

Outlook

Stable

Stable

Stable

 

TD South East Asia Limited

 

Moody's

S&P

DBRS

Long Term Debt (Deposits)

A1

AA-

-

Short Term Debt (Deposits)

P-1

A-1+

-

Outlook

Stable

Stable

-

 

1Includes: (a) Senior debt issued prior to September 23, 2018; and (b) Senior debt issued on or after September 23, 2018 which is excluded from the bank recapitalization "bail-in" regime, including debt with an original term to maturity of less than 400 days (except where classified as Short Term Debt) and most structured notes.

2Subject to conversion under the bank recapitalization "bail-in" regime

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 Ratings may be revised or withdrawn at any time by the rating agencies.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 November 19, 2021