Fitch: BB&T preferreds BBB-

Fitch Ratings said it assigned a BBB- rating to the $500 million series D non-cumulative perpetual preferred stock offering by BB&T Corp.

The preferred stock will bear an annual coupon of 5.85% and dividends are payable on the first day of February, May, August and November of each year beginning Aug. 1, Fitch said.

The proceeds will be used for general corporate purposes.

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