DBRS drops Huntington

DBRS said it downgraded the ratings of Huntington Bancshares Inc. and its related entities, including Huntington's issuer and senior debt rating to BBB from BBB (high).

At the same time, DBRS said it has downgraded Huntington's banking subsidiary's deposit and senior debt rating to BBB (high) from A (low).

All ratings were placed on negative trend.

According to the agency, the downgrade reflects Huntington's struggle with steepening asset quality erosion over the past year, and DBRS' expectation of sustained elevated credit costs going forward.

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