This morning S&P downgraded the long term rating of Regions' parent company one notch to BBB from BBB+. Regions' long term rating at the bank level was also downgraded one notch to BBB+ from A-. Both the parent company and bank were placed on negative outlook.
Was this expected? Based on your knowledge of what has been going on -- was it appropriate/deserved?
ReplyDeleteI do not find it surprising, given the financial troubles Regions has had. They are in better shape than some, but worse than others.
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