Moody's rates BB&T preferreds Baa2

Moody's Investors Service said it assigned a hybrid Baa2 rating the to non-cumulative perpetual preferred stock issued by BB&T Corp.

The outlook is stable.

Moody's said the rating reflects its normal notching practices, under which non-cumulative preferred stock is typically rated three notches below an issuer's senior debt rating. BB&T is rated A2 for senior debt.

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