Moody's confirms Regions

Moody's Investors Service said it confirmed the Ba2 ratings on trust preferred stock issued by subsidiaries of Regions Financial Corp. and the Ba2 ratings on REIT preferred stock issued by subsidiaries of Regions Bank.

At the same time, Moody's said it upgraded the preferred shelf rating at Regions to provisional Ba3 from provisional B1.

All of the impacted ratings had been on review for possible downgrade since May 18, Moody's noted, adding that none of Regions other ratings were affected by's rating action.

Following the ratings action, Moody's said its outlook on Regions and its subsidiaries is negative.

The confirmation of Regions' holding company trust preferred and bank level preferred ratings is in response to Regions' increasing its capital base by $2.5 billion, which in turn decreases the potential for dividend suspension in the future, Moody's added.

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