S&P affirms KeyCorp

Standard & Poor's said it affirmed KeyCorp's BBB+/A-2 counterparty credit ratings and its subsidiary KeyBank NAs A-/A-2 rating.

The outlook is stable.

The ratings reflect the expectation that KeyCorp's profitability could rise further in the near term with lower loan-loss provisions, lower noninterest expenses and additional reserve releases, S&P said.

The ratings consider the company's rebound in net income before preferred dividends, further improvement in loan performance, higher capital ratios and a conservative liquidity position.

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