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DBRS confirms KeyCorp
DBRS said it confirmed the ratings of KeyCorp, including its issuer and senior debt rating of BBB (high) and short-term instruments rating of R-2 (high).
The trend on all ratings remains stable.
DBRS said the action follows a detailed review of the company’s operating results, financial fundamentals and future prospects. KeyCorp’s ratings reflect its solid community focused commercial banking franchise and good balance sheet fundamentals, including sound and stabilizing credit quality, a strong capital profile and a solid funding position.
Ratings also consider the company’s primary challenge of generating higher sustained levels of revenue and operating leverage.
DBRS noted that sustained improvement in core earnings, while maintaining sound asset quality, could result in positive rating actions. Conversely, a sustained decline in core profitability and/or a weakening of its risk profile, coupled with signs of franchise weakening, could lead to ratings pressure.
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