DBRS: Laurentian Bank of Canada unchanged

DBRS said there are no changes to Laurentian Bank of Canada's R-1 (low) and Pfd-3 (low) ratings following news that the bank plans to acquire 100% of AGF Trust Co.

The trend remains stable.

The acquisition is consistent with the bank's strategy to build scale and distribution in its business to business trust business, DBRS said.

The acquisition also provides the bank with greater geographic distribution outside of Quebec, the agency said.

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