Moody’s eyes People’s United for upgrade

Moody’s Investors Service said it placed on review all long-term ratings of People’s United Financial Inc. as well as the long-term ratings and of its lead bank, People’s United Bank, NA and changed the outlook to under review from stable.

The review follows M&T Bank Corp.’s announcement it plans to acquire People’s United.

Moody’s said it believes People’s United’s creditors are likely to benefit from the merger with the higher-rated M&T.

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