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Stocks•30 April 2026•

1 min read

KBRA Affirms TD Bank Ratings at AA Despite $3.1 Billion AML Settlement

Key Facts

1KBRA affirmed TD Bank's deposit rating at AA and short-term deposit rating at K1+ with a stable outlook for all long-term ratings.

2The bank faced US$3.1 billion in settlements for AML control deficiencies, resulting in an asset cap on its U.S. operations.

Credit rating agency KBRA has affirmed The Toronto-Dominion Bank's (TD Bank) deposit rating at AA and its short-term deposit rating at K1+, maintaining a stable outlook for all long-term ratings. The affirmation follows a detailed review of the bank's financial profile after it reached US$3.1 billion in settlements regarding anti-money laundering (AML) control deficiencies. According to KBRA, TD's robust capital position and diversified earnings streams effectively offset the financial impact of the fines and the subsequent asset cap placed on its U.S. operations. While the regulatory restrictions limit growth in the American market, the bank's underlying fundamental strength remains a key driver for the rating stability. This move provides reassurance to credit markets regarding the bank's resilience despite significant legal and operational headwinds.

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