Moody's affirms State Street

Moody's Investors Service said it affirmed State Street Corp. at Aa3.

The outlook remains negative.

The affirmation follows the bank's third quarter results as well as the $2 billion investment in senior preferred stock by the U.S. government, according to the agency.

"State Street's current capital level provides a significant buffer to the regulatory well capitalized minimums," Moody's vice president Craig Emrick said in a written statement.

The negative outlook reflects the potential for custodial, asset management and securities lending revenue declines, the agency noted.

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