Moody's ups Compass Bancshares

Moody's Investors Service said it upgraded Compass Bancshares' issuer rating to A1 from A2 and Compass Bank's long-term deposit ratings to Aa3 from A1 following Banco Bilbao Vizcaya Argentaria, SA's acquisition of the banks.

The outlook is stable.

According to Moody's, the upgrade reflects the ratings lift that Compass gets from being owned by BBVA, a larger, more broadly diversified, international bank as well as the cross indemnification provisions of the Federal Deposit Insurance Act.

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