Fitch affirms Fulton Financial

Fitch Ratings said it affirmed the long-term and short-term issuer default ratings of Fulton Financial Corp., at A- and F1, respectively, along with its subordinated debt at BBB+. Its subsidiaries also were affirmed.

Fulton Bank's long-term issuer default rating was affirmed at A-, long-term deposits rating at A and short-term issuer default rating at F1. Columbia Bank's long-term issuer default rating was affirmed at A-, long-term deposits rating at A, short-term issuer default rating at F1 and short-term deposits rating at F1. Lafayette Ambassador Bank's long-term issuer default rating was affirmed at A-, long-term deposits at A, short-term issuer default rating at F1 and short-term deposits at F1. The Bank's long-term issuer default rating was affirmed at A-, long-term deposits at A, short-term issuer default rating at F1 and short-term deposits at F1. Fulton Capital Trust I's preferred stock was affirmed at BBB.

The outlook remains stable.

The ratings reflect the company's proven track record during the challenging macroeconomic environment, significantly enhanced capital levels and manageable credit costs, Fitch said.

The company's prudent risk management, disciplined underwriting and level of granularity in the loan portfolio have served the company well, helping to keep credit costs on a comparative basis contained, the agency said.

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