Moody's eyes Zions for upgrade

Moody's Investors Service said it placed the ratings and assessments of Zions Bancorporation NA, including its Baa2 long-term issuer rating, on review for upgrade. Before the review, Zions’ outlook was stable.

“The review for upgrade reflects Zions' improved asset risk profile and sound capitalization relative to higher-rated, large U.S. regional bank peers. During the review, Moody's will assess whether these positive credit trends are likely to be sustained,” the agency said in a press release.

Moody's said it will also evaluate Zions' capitalization, which is sound and above the median of other large U.S. regional banks with a common equity tier 1 capital ratio of 10.9% as of Sept. 30, 2021.

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