TORONTO (Standard&Poor's) Oct. 2, 2007--Standard&Poor's Ratings Services said today that it affirmed its 'AA-/A-1+' long- and short-term counterparty credit ratings on The Toronto-Dominion Bank (TD Bank) and the 'AA-' long-term rating on subsidiary TD Banknorth Inc. The outlooks on both TD Bank and TD Banknorth remain stable. At the same time, the 'BBB+/A-2' long- and short-term counterparty credit ratings on Commerce Bancorp, Inc. were placed on CreditWatch with positive implications. "The rating actions follow TD Bank's announcement earlier today regarding plans to acquire Commerce Bancorp for US$8.5 billion in a 75% stock/25% cash deal," said Standard&Poor's analyst Lidia Parfeniuk. The ratings on TD Bank reflect its formidable domestic retail operations, which continue to be the
