World Economy

BNS Facing Headwinds

BNS Facing HeadwindsBNS Facing Headwinds

At the start of 2016, international ratings agency Moody’s downgraded Bank of Nova Scotia due to concerns about the headwinds facing Canada’s economy and its exposure to the troubled energy patch. This came after a series of earlier downgrades because of the bank’s growing exposure to volatile emerging markets and higher-risk consumer lending, Motley Fool reported. As a result, Bank of Nova Scotia’s stock has not performed as well as many of its peers; it’s down by almost 2% over the last year. If this isn’t bad enough news for investors, there are concerns that there is worse to come.