Kroll Bond Rating Agency Assigns Senior Long-Term and Short-Term Debt Ratings to SunTrust Banks, Inc. Business Wire 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). Contact: Kroll Bond Rating Agency Marjan Riggi, 646-731-2354 Senior Director email@example.com or Gregory Root, 646-731-2381 Managing Director firstname.lastname@example.org
Kroll Bond Rating Agency Assigns Senior Long-Term and Short-Term Debt Ratings to SunTrust Banks, Inc.
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