Fitch said Tuesday it has revised the outlook on Toronto-Dominion Bank's credit ratings to "negative" from "stable."
The revision is the fallout of an anti-money laundering probe that the bank has been facing, which could impact earnings and hinder its ability to do acquisitions, the ratings agency said.
Last week, TD said it had set aside $450 million to cover potential fines for one of the three regulatory investigations on the issue and is anticipating more monetary penalties.