Fitch: TCF Financial view negative

Fitch Ratings said it affirmed the long-term issuer default rating for TCF Financial Corp. and its principal banking subsidiary TCF National Bank at A-.

The short-term issuer default ratings also were affirmed at F1.

The outlook was revised to negative from stable.

Fitch said the revision reflects the deteriorating trend in TCF's credit losses and nonperforming assets and the resulting impact on earnings.

TCF's strong core deposit base remains vital to its business model and support ratings, the agency said.

The company's capital position remains lower than most peers and is no longer counterbalanced by strong earnings performance, Fitch noted.

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