DBRS revises Truist trend to positive

DBRS said it changed the trends for Truist Financial Corp. and its banking subsidiary Truist Bank to positive from stable. The agency also confirmed both companies’ ratings, including Truist Financial’s A(high) issuer rating.

“Formed from the merger of BB&T Corp. and SunTrust Banks, Inc. (completed in December 2019) and rebranded as Truist, the positive trend reflects the company’s substantial progress to date with the integration, which positions it well to produce improved and more diversified financial results going forward. While the integration still has some important tasks to execute on, these concerns are mitigated when considering senior management’s proven track record at their legacy institutions,” DBRS said in a press release.

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