On May 10, 2006, Standard & Poor's Ratings Services revised its outlook on Laurentian Bank of Canada to stable from negative. At the same time, Standard & Poor's affirmed its ratings on the bank, including its 'BBB' long-term counterparty credit rating. The outlook revision reflects a stabilized franchise; improving core operating results, albeit still substandard for the rating level and below competing banks; and a market share position that holds its own in loans and deposits. The more coherent and tighter corporate strategy and success with execution to date speak to management's commitment. Standard & Poor's believes the franchise has stabilized and is noting incremental progress in the initiatives set out by Montreal, Que.-based Laurentian Bank to boost profitability and
