DBRS confirms PNC

DBRS said it confirmed the ratings of PNC Financial Services Group, Inc., including the company’s long-term issuer rating of A (high) and short-term issuer rating of R-1 (low).

At the same time, the agency confirmed the ratings of PNC Bank, NA.

The trend is stable.

The intrinsic assessment for the bank is AA (low), while its support assessment remains SA1.

The company’s support assessment is SA3 and its long-term issuer rating is positioned one notch below the bank’s intrinsic assessment.

DBRS said the confirmation reflects the company’s strong banking franchise and favorable credit fundamentals, including ample earnings generation capacity, sound asset quality, as well as robust funding, liquidity and capitalization.

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