The ratings on Laurentian Bank of Canada, including the 'A-1(Low)' Canadian national scale CP rating and the 'P-2(Low)' Canadian national scale preferred share rating, reflect Standard & Poor's Ratings Services' concerns over the bank's lack of revenue and loan growth; weaker earnings performance; and pressure on market share, particularly in the bank's core mortgage product line, despite the strong Quebec economy. Furthermore, B2B Trust's (100% wholly owned subsidiary of Laurentian Bank) poor financial performance, despite strong equity markets, is beginning to weigh more heavily on the bank. The frequent changes in Laurentian Bank's business strategy in past years would suggest that the bank has been challenged in expanding and defending its business franchise, specifically in its markets outside Quebec and
