Fitch ups Sterling

Fitch Ratings said it upgraded the long-term and short-term issuer default ratings of Sterling Financial Corp. and its banking subsidiary Sterling Savings Bank to B from C. Fitch also upgrade Sterling Savings' long-term deposits to B+/RR3 from CC/RR3 and its short-term deposits to B from C.

The outlook is positive.

The upgrade reflects the considerable enhancement of its capital position, reduction in problem credits as well as the company's return to profitability, the agency said.

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