S&P: M&T view to negative

Standard & Poor's said it revised its outlook on M&T Bank Corp. and its subsidiaries to negative from stable.

At the same time, S&P affirmed its A-/A-2 long- and short-term issuer credit ratings on M&T Corp. and its A/A-1 ratings on Manufacturers & Traders Trust Co.

The outlook revision follows the Federal Reserve's identification of certain regulatory concerns with M&T's procedures, systems and processes related to M&T's Bank Secrecy Act and antimoney-laundering compliance program, the agency said.

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