Fitch affirms Comerica

Fitch Ratings said it affirmed Comerica Inc.'s ratings at A/F1.

The outlook is stable.

The agency said the affirmation reflects the company's conservative risk culture, consistently strong asset quality, solid capital position and improving financial performance.

Further, the company's funding profile consists of a high proportion of non-interest bearing deposits, which is supportive of earnings in a rising rate environment, Fitch noted.

“Although CMA's profitability metrics have lagged peers for several years, its financial performance has converged with the peer median,” the agency said in a news release.

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