The Globe and Mail reports in its Wednesday edition that Toronto-Dominion Bank's claim of being "highly confident" in helping GameStop raise $20-billion for its $56-billion eBay acquisition plan was met with skepticism (all figures U.S.). The Globe's Jameson Berkow writes that eBay chairman Paul Pressler expressed this doubt in a letter to GameStop chief executive officer Ryan Cohen, describing the May 4 offer as "neither credible nor attractive." This suggests that TD may have also lacked confidence in the deal. TD's Larry Wieseneck said in a May 1 letter to Mr. Cohen, "TD Securities is highly confident that funded debt of up to $20-billion could be raised" by GameStop. However, Mr. Wieseneck added that his "expression of confidence assumes, among other things," that the combined entity would receive investment grade corporate credit ratings "from at least two of S&P, Moody's or Fitch." Meeting that condition would be a Herculean feat. One day after GameStop made its offer, Moody's referred to the proposal as a "credit negative" for eBay. By the end of 2025, eBay had roughly $7.2-billion in total debt, Moody's said, or roughly 2.3 times its annual earnings before interest, taxes, depreciation and amortization.