Moody's may cut Zions

Moody's Investors Service said it placed the ratings of Zions Bancorp. (senior at A2) and its affiliates, including its lead bank, Zions First national Bank (financial strength at B- and long term bank deposits at A1) under review for possible downgrade.

The Prime-1 ratings at Zions' subsidiary banks were affirmed by Moody's.

Moody's said the review will focus on the extent to which a further downturn in Zions' commercial real estate portfolio would impact the company's profitability and capital metrics.

The action reflects the deteriorating trend in Zions' asset quality indicators coupled with the bank's sizable concentration in commercial real estate, residential construction and land loans in particular, the agency added.

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