Moody's confirms Regions

Moody's Investors Service said it confirmed the long-term senior rating of Regions Financial Corp. at Ba3.

The agency also said it confirmed the ratings on its subsidiaries, including Regions Bank's long-term deposits rating at Ba1.

This concludes a review that began in November.

The outlook is negative.

Although the company's asset quality performance is likely to remain challenged for the foreseeable future, a sharp deterioration is unlikely in the expected economic environment, Moody's said.

The agency said it was concerned that the unexpected risk management executive departures in the fourth quarter signaled deeper risk management problems at the company.

Moody's said it expects Regions will remain challenged in its quest to return to sustainable profitability.

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