Regions, Huntington Outlook Raised by S&P on U.S. Economy
Regions Financial Corp. (RF) and Huntington Bancshares Inc. were among U.S. banks to have their credit-rating outlooks raised by Standard & Poor’s, which cited an improving economy and strengthened housing industry.
The outlook for Regions, based in Birmingham, Alabama, as well as Huntington, Susquehanna Bancshares Inc. and BancorpSouth Inc. (BXS) were elevated to positive from stable, S&P said today in a statement. Zions Bancorporation (ZION)’s outlook was raised to stable from negative. The ratings for each lender were affirmed.
“Continued gains in housing and domestic private-sector credit will gradually drive a return to a more favorable operating economic environment for banks,” S&P said.
The ratings firm also boosted the outlook for Citigroup Inc. (C)’s operating subsidiaries, including its deposit-taking unit, to stable from negative.
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