Regions Financial Corp. (RF:US) and Huntington Bancshares Inc. were among U.S. banks to have their credit-rating outlooks raised by Standard & Poor’s, which cited an improving economy and strengthened housing industry.
The outlook for Regions, based in Birmingham, Alabama, as well as Huntington, Susquehanna Bancshares Inc. and BancorpSouth Inc. (BXS:US) were elevated to positive from stable, S&P said today in a statement. Zions Bancorporation (ZION:US)’s outlook was raised to stable from negative. The ratings for each lender were affirmed.
“Continued gains in housing and domestic private-sector credit will gradually drive a return to a more favorable operating economic environment for banks,” S&P said.
The ratings firm also boosted the outlook for Citigroup Inc. (C:US)’s operating subsidiaries, including its deposit-taking unit, to stable from negative.
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