Fitch: Fifth Third Bancorp view to stable

Fitch Ratings said it affirmed the long-term issuer default rating of Fifth Third Bancorp, along with its preferred stock at BBB, senior debt at A-, subordinated debt at subordinated debt at BBB+, short-term issuer default rating at F1 and short-term debt at F1. The agency also affirmed Fifth Third Bank (Ohio)'s long-term issuer default rating at A-, senior debt at A-, subordinated debt at BBB+, long-term deposits at A, short-term issuer default rating at F1 and short-term deposits at F1, along with Fifth Third Capital Trust IV, V, VI, VII's preferreds at BBB.

The outlook was revised to stable from negative.

The outlook revision was due to the company's strong liquidity profile, good capital ratios and moderating credit trends, Fitch said.

The bank has been battling ongoing asset quality issues since late 2007 due to challenging residential housing markets in its footprint, most notably in Florida and Michigan, the agency said. But over the past couple quarters, it has reported some moderating credit trends, Fitch said.

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