Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Fifth Third Bancorp > News item |
DBRS may cut Fifth Third
DBRS said it has placed the long- and short-term ratings of Fifth Third Bancorp and its operating bank subsidiaries, including Fifth Third's issuer and senior debt rating of A and Fifth Third Bank subsidiary's long and short-term ratings of A (high) and R-1 (middle), respectively, under review with negative implications.
The review reflects DBRS' view that Fifth Third has experienced net losses over the past four quarters as it struggles with steepening credit costs from asset quality that has deteriorated for the past two years coupled with weaker core income before provisions and taxes.
Importantly, the $5.1 billion of loan loss provisions taken in the past four quarters, including $952 million in Q3 2009, was more than 2.3 times the company's adjusted income before taxes and provisions of roughly $2.2 billion, the agency said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.