AP News

Moody's reviewing US units of 2 Canadian banks

NEW YORK (AP) — Moody's Investors Service warned Friday that it could downgrade its debt ratings on the U.S. subsidiaries of two Canadian banks, Toronto-Dominion Bank and Bank of Montreal, after the parent companies' ratings were placed on review.

The credit rating agency said it is reviewing for possible downgrade the long-term debt and deposit ratings of the banks' U.S. subsidiaries.

U.S.-traded shares of Toronto-Dominion Bank fell 49 cents to close at $81.32; Bank of Montreal shares were unchanged at $59.92.

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