...Ratings Affirmed: Fitch Ratings affirmed Bank of Nova Scotia's (The) (Scotiabank, Scotia, or the company) long- and short-term issuer default ratings (IDR) at `AA¡' and `F1+', respectively, on Oct. 28, 2016 following Fitch's Canadian bank peer review. Fitch notes that Scotia has continued to deliver good performance over various economic cycles. Rating Outlook Stable: The Rating Outlook for Scotia as well as many other Canadian banks remains Stable despite concerns related to consumer credit in Canada, and particularly the Canadian housing market. At this juncture, Fitch views the risks associated with the Canadian housing market and the global economic headwinds to be in part mitigated by Scotia's comparatively good capital ratios and government support for housing. Earnings Good, But Could Slow: Fitch notes that Scotia's overall operating performance continues to be good, although, Fitch would expect that earnings begin to be more challenging in the company's Canadian banking operations...
