10:21 AM EDT, 05/06/2024 (MT Newswires) -- DBRS on Friday confirmed its credit ratings on Toronto-Dominion Bank ( MLWIQXX ) and its related entities, including the bank's long-term issuer rating of "AA (high)" and short-term issuer rating of "R-1 (high)."

The trend on all credit ratings is stable.

The bank's long-term issuer rating is composed of an intrinsic assessment of "AA" and a support assessment of "SA2," which reflects the expectation of timely systemic support from the Government of Canada.

"TD's credit ratings and Stable trends are underpinned by its strong banking franchise and diversified business mix and earnings, including its top-tier Canadian retail franchise," the rating agency said. "Additionally, the Bank has a large U.S. banking franchise operating primarily along the Eastern Seaboard, contributing to earnings diversity."

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