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Moody's lifts Regions view to positive
Moody's Investors Service said it affirmed the ratings of Regions Financial Corp. and its bank subsidiary, Regions Bank, following the affirmation of Regions Bank's Baa1 standalone baseline credit assessment.
Regions Financial has a senior unsecured rating of Baa2 and Regions Bank is rated A2/prime-1 for deposits.
The outlook on both companies was changed to positive from stable, reflecting its lower risk asset mix compared to several years ago, its enhanced risk management and the prospects for sustaining improvements in its profitability, Moody's said.
The ratings reflect a belief that the company will maintain a solid balance sheet, particularly a strong liquidity profile and asset risk, the agency said, and it will further improve its profitability.
The company's asset risk has benefited from the favorable U.S. economy, as well as its diversified loan portfolio and conservative risk appetite, the agency said.
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