TORONTO (Standard&Poor's) June 6, 2012--Standard&Poor's Ratings Services said today that its ratings on Laurentian Bank of Canada (BBB+/Stable/A-2) are unchanged following its subsidiary B2B Trust's announcement that it will acquire 100% of AGF Trust Co. (AGF Trust) for approximately C$242 million in cash (funded partially through a private placement equity raise). The transaction is expected to close in August 2012 with AGF Trust to be integrated with B2B Trust in 2013. The bank expects the acquisition to result in nonrecurring charges of about C$30 million-C$35 million and will likely be accretive by 2014 with annual net income of about C$28 million-C$30 million annually. While we believe there are some integration risks, we view the acquisition as
