Kroll Bond Rating Agency Assigns Long-Term and Short-Term Ratings to Zions Bancorporation

  Kroll Bond Rating Agency Assigns Long-Term and Short-Term Ratings to Zions

Business Wire

NEW YORK -- December 18, 2012

Kroll Bond Rating Agency (KBRA) has assigned senior long-term and short-term
debt ratings of BBB and K3 to Zions Bancorporation, a bank holding company. In
addition, KBRA has assigned long-term ratings of BBB+ and short-term ratings
of K2 to the senior deposits of Zions First National Bank, Amegy Bank,
National Association, and California Bank & Trust. These three banks
constitute the largest subsidiaries of Zions Bancorporation.

The ratings are based on Zions’ financial fundamentals as indicated by sound
capital levels, improving asset quality, and adequate liquidity, as well as
the positive steps taken by the group towards enhancing its risk management
framework. The ratings also reflect the group’s concentration in commercial
mortgages, the remaining exposure to a portfolio of trust preferred CDOs and
relatively low efficiency ratios.

The ratings for Zions Bancorporation and its subsidiary banks incorporate
financial strength ratings provided by KBRA's Subscription Rating Service, as
well as an assessment of the group's management structure and operations. The
ratings and supporting rationale are available at

About Kroll Bond Rating Agency

KBRA was established in 2010 by Jules Kroll to restore trust in credit ratings
by creating new standards for assessing risk and by offering accurate, clear
and transparent ratings. KBRA is registered with the U.S. Securities and
Exchange Commission as a Nationally Recognized Statistical Rating Organization
(NRSRO). In addition, KBRA is recognized by the National Association of
Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).


Kroll Bond Rating Agency
Marjan Riggi
Jerome S. Fons
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