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DBRS upgrades SunTrust
DBRS said it upgraded most of the ratings of SunTrust Banks, Inc., including its long-term issuer rating to A from A (low).
At the same time, the agency upgraded the ratings of SunTrust Bank to A (high) from A.
The trend is stable.
The intrinsic assessment for the bank is A (high), while the support assessment remains SA1. SunTrust Banks’ support assessment is SA3 and its long-term issuer rating is positioned one notch below the bank’s intrinsic assessment.
DBRS said the upgrade reflects the substantial progress that SunTrust has realized, improving its core level of profitability and its efficiency ratio while at the same time growing revenues and keeping its risk profile modest.
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