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DBRS upgrades KeyCorp
DBRS said it upgraded most of the ratings for KeyCorp and its related entities, including the company’s long-term issuer rating to A (low) from BBB (high).
The trend was revised to stable.
The intrinsic assessment for KeyBank NA was raised one notch to A from A (low), while its support assessment remains SA1.
KeyCorp’s support assessment is SA3 and its long-term issuer rating is positioned one notch below the bank’s intrinsic assessment.
The agency said the upgrade recognizes the sustained progress the company has made improving profitability metrics and reviving revenue growth, while maintaining a sound balance sheet.
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