Moody's upgrades Regions Financial

Moody's Investors Service said it upgraded the long-term ratings of Regions Financial Corp. and its subsidiaries.

Regions Financial was upgraded to Ba1 from Ba3 for senior debt. Its lead bank, Regions Bank, was upgraded to Baa3 from Ba1 for long-term deposits and to Prime-3 from Not-Prime for short-term deposits.

The standalone bank financial strength rating was affirmed at D+ but its baseline credit assessment was raised to Baa3 from Ba1.

The holding company's short-term rating was affirmed at Not-Prime.

The outlook is stable.

Moody's said the upgrade reflects Regions' improved asset quality. It also incorporates Regions' enhanced risk management infrastructure and reduced asset concentrations placing the company in a better position to weather another real estate cycle, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.