Moody’s gives Aaa rating to TD Bank mortgage bonds

Moody’s gives Aaa rating to TD Bank mortgage bonds

Moody’s gives Aaa rating to TD Bank mortgage bonds Credit agency Moody’s has given a definitive Aaa rating to a series of covered bonds that have been issued by Toronto-Dominion Bank. The U$15 billion covered bond is backed by a cover pool of mortgages which Moody’s has assessed as being high quality, conventional first lien Canadian residential mortgages originated by TD. The agency rates the loan-to-value of the mortgages at 64 per cent at February 2015 with all having originally had an LTV of 80 per cent.