Moody's may cut Whitney

Moody's Investors Service said it placed on review for possible downgrade Whitney Holding Corp.'s long-term debt ratings of Baa1. The agency said it affirmed the bank's prime-2 rating.

The review will focus on the company's third-quarter results, with particular emphasis on the impact that the external assessment of Whitney's credit administration and credit review processes could have on the company's asset quality metrics, Moody's said.

While actual losses in Whitney's commercial real estate portfolio, its primary credit challenge, remain within expectations, the agency noted that a rise in Whitney's classified assets is likely following the external review.

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