Strong track record of generating consistent and stable earnings growth Very strong capital adequacy ratios Very good diversification by geographic and business line Economic and political risk associated with Latin American and Asian subsidiaries. Relatively high level of exposure to the U.S. leverage lending sector The ratings on The Bank of Nova Scotia (Scotiabank), including the 'A-1(Mid)' Canadian scale CP rating and the 'P-1(Low)' Canadian scale preferred share rating, reflect its market position as one of five dominant universal banks in Canada, its broad business mix, geographic diversification, and the efficiency of its operations. The bank has generated a track record of strong and consistent earnings performance and has a very strong capital base even when risk adjusted for higher
