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Published on 12/6/2011 in the Prospect News Investment Grade Daily and Prospect News Preferred Stock Daily.

S&P reviews 31 North American bank ratings

Standard & Poor's said it reviewed its ratings on 31 North American regional banks and their subsidiaries by applying its new bank ratings criteria.

The following is a list of the affected banks and ratings actions:

• Associated Banc Corp. affirmed at BBB/stable/--

• Associated Bank NA revised to BBB+/stable/-- from BBB/stable/--;

• Banco Bilbao Vizcaya Argentaria Puerto Rico revised to BB+/negative/B from BBB/negative/A-2;

• Bank of North Dakota revised to AA-/stable/A-1+ from A+/stable/A-1;

• BB&T Corp. revised to A-/stable/A-2 from A/stable/A-1;

• Branch Banking & Trust Co. revised to A/stable/A-1 from A+/stable/A-1;

• Comerica Inc. affirmed at A-/stable/A-2;

• Comerica Bank affirmed at A/stable/A-1;

• Commerce Bancshares Inc. revised to A-/stable/A-2 from A/stable/A-1;

• Commerce Bank NA revised to A/stable/A-1 from A+/stable/A-1;

• Cullen/Frost Bankers Inc. revised to A/stable/-- from A-/stable/--;

• Frost National Bank San Antonio revised to A+/stable/A-1 from A/stable/A-1;

• Fifth Third Bancorp affirmed at BBB/Positive/A-2;

• Fifth Third Bank affirmed at BBB+/Positive/A-2 BBB+/Positive/A-2;

• First-Citizens Bank & Trust Co. affirmed at BBB+/Stable/A-2;

• First Horizon National Corp. affirmed at BBB-/Stable/--;

• First Tennessee Bank NA Memphis affirmed at BBB/Stable/A-2;

• First Niagara Financial Group Inc. affirmed at BBB/Stable/--;

• First Niagara Bank affirmed at BBB+/Stable/--;

• First Republic Bank revised to A-/Stable/-- from BBB+/Positive/--;

• FirstBank Puerto Rico affirmed at B+/Stable/--;

• FirstMerit Corp. affirmed at BBB+/Stable/--;

• FirstMerit Bank NA affirmed at A-/Stable/A-2;

• Huntington Bancshares Inc. affirmed at BBB/Stable/--;

• Huntington National Bank affirmed at BBB+/Stable/--;

• KeyCorp revised to BBB+/Positive/A-2 from BBB+/Stable/A-2;

• KeyBank NA revised to A-/Positive/A-2 from A-/Stable/A-2;

• Key Equipment Finance Inc. revised to A-/Positive/A-2 from A-/Stable/A-2;

• M&T Bank Corp. revised to A-/Stable/A-2 A-/Negative/A-2;

• Manufacturers & Traders Trust Co. revised to A/Stable/A-1from A/Negative/A-1;

• Wilmington Trust Corp. revised to A-/Stable/A-2 from A-/Negative/A-2;

• Wilmington Trust Co. DE revised to A/Stable/A-1 from A/Negative/A-1;

• Wilmington Trust NA revised to A/Stable/A-1 from A/Negative/A-1;

• Northern Trust Corp. revised to A+/Stable/A-1 from AA-/Stable/A-1+;

• Northern Trust Co. revised to AA-/Stable/A-1+ from AA/Stable/A-1+;

• People's United Financial Inc. affirmed at BBB+/Stable/--;

• People's United Bank affirmed at A-/Stable/A-2;

• PNC Financial Services Group revised to A-/Stable/A-2 from A/Stable/A-1;

• PNC Bank NA, Pittsburgh, PA revised to A/Stable/A-1 from A+/Stable/A-1;

• PNC Funding Corp. revised to A-/Stable/A-2 A/Stable/A-1;

• Popular Inc. revised to B+/Stable/C from B+/Positive/C;

• Banco Popular de Puerto Rico revised to BB/Stable/B from BB-/Positive/B;

• Popular International Bank Inc. revised to B+/Stable/-- B+/Positive/--;

• Popular North America Inc. revised to B+/Stable/C B+/Positive/C;

• Regions Financial Corp. affirmed at BB+/Stable/B;

• Regions Bank affirmed at BBB-/Stable/A-3;

• Santander BanCorp. revised to BBB/Stable/A-2 from A-/Negative/A-2;

• Banco Santander Puerto Rico revised to BBB/Stable/A-2 from A-/Negative/A-2;

• SunTrust Banks Inc. affirmed at BBB/Stable/A-2;

• SunTrust Bank Holding Co. affirmed at BBB/Stable/--;

• SunTrust Bank affirmed at BBB+/Stable/A-2;

• SVB Financial Group affirmed at BBB+/Stable/--;

• Silicon Valley Bank affirmed at A-/Stable/--;

• Synovus Financial Corp. revised to B/Stable/-- from BB-/Negative/--;

• Synovus Bank revised to BB-/Stable/B from BB+/Negative/B;

• TCF Financial Corp. affirmed at BBB/Negative/A-2;

• TCF National Bank affirmed at BBB+/Negative/A-2;

• Trustmark Corp. affirmed at BBB+/Stable/A-2;

• Trustmark National Bank affirmed at A-/Stable/A-2;

• U.S. Bancorp revised to A/Stable/A-1 from A+/Stable/A-1;

• U.S. Bank, NA revised to A+/Stable/A-1 from AA-/Stable/A-1+;

• U.S. Bank NA, ND revised to A+/Stable/A-1 from AA-/Stable/A-1+;

• UMB Financial Corp. affirmed at A-/Stable/--;

• UMB Bank NA affirmed at A/Stable/A-1;

• Zions Bancorporation affirmed at BBB-/Negative/A-3; and

• Zions First National Bank, Salt Lake City, UT affirmed at BBB/Negative/A-2.


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