TORONTO (Standard&Poor's) July 27, 2012--Standard&Poor's Ratings Services said today it has revised its outlooks on seven Canadian financial institution ratings to negative from stable. The financial institutions are: The Bank of Nova Scotia Central 1 Credit Union Home Capital Group Inc. Laurentian Bank of Canada National Bank of Canada Royal Bank of Canada Toronto-Dominion Bank At the same time, Standard&Poor's affirmed its ratings on all seven banks. Standard&Poor's also affirmed its ratings on five other Canadian financial institutions (see Ratings List). These five institutions maintain stable outlooks. The outlook revisions are linked to our evolving views of economic risk and industry risk for banks operating in Canada. A prolonged run-up in housing
