S&P upgrades Regions Financial

S&P said it raised the long-term issuer credit rating on Regions Financial Corp. to BBB+ from BBB and raised the long-term issuer credit rating on Regions Bank to A- from BBB+.

The outlooks are stable.

In addition, the agency affirmed the A-2 short-term issuer credit ratings on both entities.

“Our one-notch upgrade of Regions acknowledges the company's track record of conservative business growth strategies and prudent risk management, as well as its steady operating performance and declining loan losses over the past few years,” S&P said in a news release.

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