Moody's affirms BB&T

Moody's Investors Service said it affirmed its ratings on BB&T Corp. (senior debt at A1) and its subsidiaries, including its lead bank Branch Banking and Trust Co.

The bank is rated B for financial strength and Aa2 for long-term deposits, Moody's said, adding that it also reiterated its negative outlook on BB&T and its subsidiaries.

The rating affirmation follows the announcement by BB&T that it has acquired most of the assets and all of the deposits of Colonial Bank, a sizable regional bank headquartered in Montgomery, Ala., that failed, Moody's noted, adding that the deal significantly strengthens BB&T's banking presence in the U.S. Southeast.

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