The ratings on Toronto-based Bank of Montreal (BMO; TSX: BMO) reflect the bank's track record of generating very strong and consistent earnings, its position as one of the five dominant universal banks in Canada, well-diversified business base, solid credit risk management infrastructure, and good toehold into the U.S. market. Overall, the bank's earnings base is well balanced with about two-thirds of earnings coming from the relatively stable personal and commercial (P&C) bank and wealth management operations, and about one-third from its wholesale operations. BMO has and is expected to continue to maintain its track record of generating strong and consistent operating earnings, although performance has been somewhat dampened by the weaker U.S. dollar. The bank's favorable trajectory can be attributed
