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DBRS: SunTrust unchanged
DBRS said SunTrust Banks, Inc.'s issuer and senior debt ratings of A (low) remain unchanged, following the release of its second quarter 2011 financial results.
The trend remains at stable.
DBRS said it views the second quarter of 2011 earnings to be in line with expectations, marking the fourth consecutive quarter of profits.
SunTrust reported net income available to common shareholders of $174 million that reflected significant improvement from $38 million reported in the prior quarter and a net loss of $56 million recorded in the second quarter of 2010, the agency said.
The bank's asset quality reflects continued improvements with non-performing assets, non-performing loans and net charge-offs, which all declined over the quarter, DBRS said.
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