S&P acts on U.S. Banks

S&P said it revised the outlooks on Bank of America Corp., JPMorgan Chase, Morgan Stanley, the PNC Financial Services Group Inc., and Trust Financial Corp. to positive from stable.

“We also maintained our stable rating outlooks on Ally Financial Inc., American Express Co., the Bank of New York Mellon Corp., Capital One Financial Corp., Citigroup Inc., Citizens Financial Group Inc., Discover Financial Services, Fifth Third Bancorp, the Goldman Sachs Group Inc., KeyCorp, Northern Trust Corp., Regions Financial Corp., SLM Corp., State Street Corp., Synchrony Financial, U.S. Bancorp and Wells Fargo & Co.,” the agency said in a press release.

S&P maintained negative outlooks on Huntington Bancshares Inc. and M&T Bank Corp.

Concurrently, the agency affirmed all the banks’ ratings.

“The positive outlook actions are based on the stabilization in U.S. economic trends and the easing industry risk in the U.S. banking system. We use our analysis of economic and industry risk as part of our banking industry country risk assessment (BICRA) to set the anchor, or starting point, for our bank ratings,” S&P said.

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