S&P ups Synovus to stable

Standard & Poor's said that it revised the outlook on Synovus Financial Corp. to stable from negative and affirmed the BB- long-term counterparty credit rating.

The outlook revision reflects the view that asset quality appears to be stabilizing, as demonstrated by lower sequential charge-offs and nonperforming loan inflows, the agency said. Asset-quality deterioration and capital erosion at Synovus will be manageable given the company's robust reserve and its expense-reduction plan implementation.

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