Kroll Bond Rating Agency Assigns Senior Long-Term and Short-Term Debt
Ratings to SunTrust Banks, Inc.
NEW YORK -- September 10, 2013
Kroll Bond Rating Agency (KBRA) has assigned senior long-term and short-term
debt ratings of BBB+ and K2, respectively, to SunTrust Banks, Inc. (SunTrust),
a bank holding company. In addition, KBRA has assigned a long-term rating of
A- and short-term rating of K1 to the deposits of the parent’s lead
subsidiary, SunTrust Bank (Bank). This rating was not solicited by SunTrust
Bank and the bank did not participate in the ratings process.
The outlook on all ratings is stable. The ratings are based on SunTrust’s
sound financial fundamentals, as evidenced by continued improvements in asset
quality, healthy capital levels and an improving earnings trend. The ratings
also reflect the organization’s amplified focus on wholesale banking, its
notable concentration in nonperforming residential mortgages, and the Bank’s
geographic concentration in the southeastern region, which was relatively
weakened by the crisis.
This rating is based on publicly available information and utilizes
KBRA’sGlobal Bank and Bank Holding Company Rating Methodology, published on
May 2, 2013.
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, 646-731-2354
Gregory Root, 646-731-2381
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