S&P affirms Comerica

Standard & Poor's said that it affirmed Comerica Inc.'s A-/A-2 long-term counterparty credit ratings and the A/A-1 ratings on the company's primary subsidiary Comerica Bank.

The outlook is stable.

The affirmation following S&P's review of Comerica's fourth-quarter results, which mildly exceeded expectations, and the announcement that it has entered into an agreement to acquire Sterling Bancshares Inc. for just more than $1 billion in common stock, the agency said.

S&P said the affirmation reflects the belief that the announced stock-for-stock acquisition of Sterling will not have a material impact on Comerica's overall financial and business profile.

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