Oct. 6 (Bloomberg) -- Standard & Poor’s lowered the outlook for Royal Bank of Canada and Toronto-Dominion Bank to “stable” from “positive.”

Canada’s two largest banks by assets were reduced on expectations for a “weaker Canadian economic recovery,” the ratings company said today in separate statements.

--Editor: William Ahearn

To contact the reporter on this story: Sean B. Pasternak in Toronto at spasternak@bloomberg.net.

To contact the editors responsible for this story: David Scanlan at dscanlan@bloomberg.net; David Scheer at dscheer@bloomberg.net.