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S&P upgrades Zions
S&P said it raised its long-term issuer credit rating on Zions Bancorporation to BBB from BBB-.
At the same time, the agency raised the long-term issuer credit rating on ZB NA to BBB+ from BBB.
In addition, S&P raised its short-term issuer credit rating on Zions to A-2 from A-3 and affirmed the short-term issuer credit rating on ZB at A-2.
The outlook is stable.
“Our one-notch upgrade of Zions reflects the company's overall improved creditworthiness that is comparable to higher-rated U.S. regional bank peers,” the agency said in a news release.
“In particular, the upgrade recognizes Zions' improved risk management, earnings and capital over the past few years.”
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