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Associated Banc Corp. Upgraded To 'BBB-' From 'BB-', Associated Bank N.A. To 'BBB' From 'BB+'; Outlook Stable
Standard & Poors
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
ASBC's credit costs have declined and profitability has improved, positioning it for positive earnings in 2011. We are raising our ratings on ASBC and its banking subsidiary, Associated Bank, including raising the counterparty credit ratings to 'BBB-' from 'BB-' and 'BBB' from 'BB+', respectively. The outlook is stable. Associated repurchased $262.5 million, or half, of the $525 million of preferred stock it issued to the U.S. Treasury under the Troubled Asset Relief Program (TARP). NEW YORK (Standard & Poor's) May 5, 2011--On May 5, 2011, Standard & Poor's Ratings Services raised its long-term counterparty credit ratings on Associated Banc Corp. (ASBC) to 'BBB-' from 'BB-', and on banking subsidiary Associated Bank N.A. to 'BBB' from 'BB+'. The outlook is stable....
Companies mentioned in this report are: Associated Banc Corp.,Associated Bank N.A.
Action: Outlook: Stable
Action: Upgraded
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