S&P lifts Huntington view to positive

Standard & Poor's said it revised the outlooks on Huntington Bancshares Inc. and its banking subsidiary, Huntington National Bank, to positive from negative.

The agency also said it affirmed the BB+/B and BBB-/A-3 counterparty credit ratings, respectively, on the company and the subsidiary. The short-term ratings were then withdrawn.

The outlook revision reflects an expectation that Huntington's credit quality and profitability will continue to recover in 2010, easing the pressure on its capital, S&P said.

The bank's credit quality has improved in the past several quarters, the agency said, and net charge-offs fell, demonstrating management's resolve to aggressively tackle its sizable asset quality problems.

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