BMO Credit Rating Cut by S&P on Trading Loss

Bloomberg, Doug Alexander, 8 June 2007Bank of Montreal, Canada's fourth-largest bank, had its credit rating cut by Standard & Poor's Rating Services because of weak risk management that led to the biggest commodities trading loss for a Canadian bank.The debt rating for the Toronto-based bank was cut to A+ from AA-, the credit-rating company said today in a statement. That's the first S&P