Scotiabank Peru -- Moody's changes outlook to negative on Canadian banks' supported ratings

Toronto, June 11, 2014 -- Moody's Investors Service has today affirmed the long-term ratings of the seven largest Canadian banks and changed the outlook to negative from stable on the supported senior debt and uninsured deposit ratings of those banks. These actions are taken in the context of previously announced plans by the Canadian government to implement a "bail-in" regime for domestic systemically important banks and the accelerating global trend towards reducing the public cost of future bank resolutions through such burden-sharing. The negative outlook reflects Moody's view that the balance of risk for the Canadian bank's senior debt holders and uninsured depositors has shifted to the downside.

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