Strong domestic retail platform Lower variability in earnings Lower credit risk profile Strengthening capital position Replacing revenues from significantly reduced wholesale bank Less geographical diversification Success of the major strategic orientation U.S. discount brokerage operations' future in a consolidating industry The ratings on Toronto, Ont.-based The Toronto-Dominion Bank (TD Bank) reflect better-than-expected progress cleaning up the balance sheet and eliminating some of the variability in earnings through the disposition of large corporate loans and the streamlining of business units in the past year. Further supporting the ratings is TD Bank's strong domestic retail platform. Offsetting this is the uncertainty with the level of success of the major strategic orientation in the past year. The ratings are also constrained by TD
