Fitch Ratings Has Placed 9 Banks On Rating Watch Negative (BBT, DFS, FITB, STI, WFC)

May 15, 2009 2:15 PM EDT
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Fitch Ratings has placed the ratings of the following nine U.S. banking companies and their bank subsidiaries on Rating Watch Negative.

BB&T Corporation (NYSE: BBT)
Discover Financial Services (NYSE: DFS)
Fifth Third Bancorp (Nasdaq: FITB)
KeyCorp (NYSE: KEY)
M&T Bank Corporation (NYSE: MTB)
Popular, Inc. (Nasdaq: BPOP)
Regions Financial Corp. (NYSE: RF)
SunTrust Banks Inc. (NYSE: STI)
Wells Fargo (NYSE: WFC)

The Rating Watch extends to all ratings of the companies listed above and their subsidiaries with the exception of the support ratings and support floors for all entities as well as the short term ratings of
Wells Fargo and BB&T Corp.

The actions reflect Fitch's view that these institutions show an incrementally higher level of vulnerability to the credit deterioration which Fitch expects to continue across virtually all loan categories.

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