Moody's cuts ratings of six Canadian banks

Mon Jan 28, 2013 1:46pm EST
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Jan 28 (Reuters) - Moody's Investors Service has cut the ratings of six Canadian banks, including the Canadian Imperial Bank of Commerce and Bank of Montreal, by one notch due to concerns about rising consumer debt and "elevated housing prices."

The other banks cut were Bank of Nova Scotia, Caisse Centrale Desjardins, National Bank of Canada, and Toronto-Dominion Bank.