Fitch changes Zions to positive

Fitch Ratings said it affirmed Zions Bancorporation's ratings at BBB-/F3 and revised the outlook to positive from stable.

Fitch said the positive outlook reflects its observation that management has begun making notable progress in addressing the company's strategic objectives, which is expected to lead to persistently improved core earnings over the rating time horizon.

The agency believes this progress has been made while not increasing risk appetite.

Moreover, the outlook revision reflects Fitch's expectation that asset quality issues related to the energy sector should continue to be manageable.

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