On Feb. 28, 2006, Standard&Poor's Ratings Services revised its outlook on The Toronto-Dominion Bank (TD Bank; A+/Positive/A-1) and its subsidiaries to positive from stable. At the same time, Standard&Poor's affirmed the ratings on TD Bank and its subsidiaries, including the 'A+' long-term counterparty credit rating on TD Bank. The outlook revision acknowledges the strength of TD Bank's formidable domestic retail franchise and the significant restructuring of the bank and its lowered risk profile in the past few years. Now that TD Bank has successfully repositioned its platform to reflect its desire to build a retail powerhouse and streamlined and exited underperforming businesses consistent with its risk appetite, it is poised for more stable and stronger profitability
