BB&T Credit-Rating Outlook Cut to Negative by S&P After Fed Test
Stock Chart for BB&T Corp (BBT)
BB&T Corp., North Carolina’s second-biggest bank, had the outlook on its credit rating cut to negative from stable by Standard & Poor’s after the Federal Reserve objected to the lender’s capital plan.
The Fed’s rejection “reflected unanticipated weaknesses in certain of BB&T’s risk-management processes,” S&P said today in a statement. BB&T, based in Winston-Salem, said last week it will resubmit its plan “as soon as feasible.”
To contact the reporter on this story: Laura Marcinek in New York at firstname.lastname@example.org
To contact the editor responsible for this story: David Scheer at email@example.com
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.