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DBRS changes Laurentian Bank of Canada view
DBRS said it confirmed the ratings of Laurentian Bank of Canada and revised the trend on its long-term ratings to negative from stable.
Trends all short-term ratings remain stable.
The bank’s intrinsic assessment of A (low) and support assessment of SA3 are unchanged.
The agency said the revision reflects concern with the quality of the bank’s control functions and underwriting procedures at a sensitive time in the housing cycle and the potential impact of recent events on the bank’s reputation and funding.
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