TORONTO (Standard&Poor's) Aug. 16, 2005--Standard&Poor's Ratings Services today said that the ratings on Toronto Dominion Bank (TD Bank; A+/Stable/A-1) remain unchanged following the bank's announcement that it has agreed to a settlement totaling US$130 million (C$103 million after tax) for one of its Enron-related legal matters (Mega-Adversary proceeding) and boosted legal reserves by US$300 million. The after-tax charge of C$103 million was within our expectations and represents less than 20% of the bank's second-quarter GAAP earnings. However, the much larger Enron-related litigation (the Newby class action suit) is still before TD Bank. The ultimate cost of that is very difficult to estimate, although the bank retains reserves of slightly more than US$400 million. Standard&Poor's would
