Moody's lowers M&T Bank outlook to negative

Moody's Investors Service said it changed the outlook on M&T Bank Corp. and its rated subsidiaries, including M&T Bank, to negative from stable.

M&T Bank, also known as Manufacturers and Traders Trust Co., is rated B- for bank financial strength and A1/P-1 for deposits, the agency said, noting that the parent company is rated A2 for senior unsecured debt.

Moody's said that the change in outlook was prompted by the weakening in the company's asset quality and profitability metrics against the backdrop of a comparatively weak bank level liquidity profile.

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