DBRS: KeyCorp unaffected

DBRS said that its ratings for KeyCorp, including its BBB (high) issuer & senior debt ratings are unchanged after the announcement of the company's third-quarter 2011 earnings.

For the quarter, Key reported net income available to common shareholders of $212 million, down $22 million from 2Q11, the agency said.

DBRS sees this quarter's results, though down from 2Q11, as reflective of mostly positive trends, the agency noted, stating that the credit metrics continue to improve, benefiting from the company's aggressive exit of higher risk lending activities and a conservative approach to credit resolution.

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