Moody's affirms PNC

Moody's Investors Service said it affirmed the ratings of PNC Financial Services Group, Inc. and its subsidiaries.

PNC is rated A1 for senior debt and the lead bank, PNC Bank, NA, is rated B for bank financial strength and Aa3 for long-term deposits, the agency said, noting that the outlook on PNC and its subsidiaries is negative.

In a related action, Moody's said it upgraded the ratings of National City Corp. and its subsidiaries. National City was upgraded to A1 from A3 for senior debt and its lead bank, National City Bank, was upgraded to Aa3 from A2 for long-term deposits and to B from C+ for bank financial strength.

The short-term rating of National City Credit Corp. was raised to Prime-1 from Prime-2, Moody's said.

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