DBRS alters Fifth Third trend to stable

DBRS said it changed the trend on Fifth Third Bancorp and banking subsidiary, Fifth Third Bank NA to stable from negative.

Concurrently, the agency affirmed both companies’ ratings, including the parent’s long-term A issuer rating.

“The ratings confirmation and revision of the trend to stable reflects Fifth Third’s strong balance sheet fundamentals, risk profile and diversified earnings stream. Earnings, which were adversely affected by reserve building in 2020, have been fairly resilient in 1H21, benefiting from reserve releases. However, the company has also been able to report positive operating leverage, despite the still challenging operating environment,” DBRS said in a press release.

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