Moody's may cut Hancock

Moody's Investors Service said it placed all long-term and short-term ratings of Hancock Holding Co. and its subsidiaries under review for possible downgrade.

The holding company has an A2 issuer rating and its lead bank, Hancock Bank, is rated B- for unsupported bank financial strength and A1/Prime-1 for deposits, the agency noted.

In a related action, Moody's said it changed its review on Whitney Holding Corp. (issuer at Baa1) and its subsidiary, Whitney National Bank (unsupported bank financial strength at C and A3/Prime-2 for deposits), to rating under review for possible upgrade.

According to the agency, the rating reviews follow the announcement that Hancock Holding has entered into a definitive agreement to acquire Whitney Holding in an all-stock transaction valued at $1.5 billion.

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