DBRS may up Whitney

DBRS said it placed the BBB long- and short-term ratings issuer and senior debt rating of Whitney Holding Corp. issuer and senior debt rating under review with positive implications.

The positive review follows news that the company has agreed to be acquired by Hancock Holding Co. in a stock-for-stock transaction valued at $1.5 billion.

The review reflects a view that Whitney should benefit from Hancock's solid financial fundamentals and ample resources, DBRS said.

The agency said expects to conclude the review upon the close of the transaction, which will likely result in an upgrade.

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