Moody's Downgrades The Toronto-Dominion Bank (TD) and Subsidiary After Guilty Plea – Hagens Berman
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Moody's has downgraded the long-term ratings of The Toronto-Dominion Bank and its U.S. subsidiaries following a guilty plea to conspiracy to commit money laundering and a $3 billion fine.
November 11, 2024 | 9:30 pm
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Moody's downgraded The Toronto-Dominion Bank's long-term ratings due to a guilty plea for conspiracy to commit money laundering and a $3 billion fine.
The downgrade by Moody's is a direct consequence of TD's legal issues, including a guilty plea and a substantial fine. This is likely to negatively impact investor sentiment and the stock price in the short term.
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IMPORTANCE 90
RELEVANCE 100