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Research Update: Wilmington Trust Corp. Upgraded After Acquisition By M&T Bank Corp.; Outlook Negative May 11 Product Image

Research Update: Wilmington Trust Corp. Upgraded After Acquisition By M&T Bank Corp.; Outlook Negative May 11

  • Published: May 2011
  • Standard & Poors

FEATURED COMPANIES

  • M&T Bank Corp.
  • Wilmington Trust Co. DE
  • Wilmington Trust Corp.
  • MORE

Abstract
M&T Bank Corp. has completed its acquisition of Wilmington Trust Corp. We are raising our ratings on Wilmington and its subsidiary Wilmington Trust Co. The ratings are removed from CreditWatch where they were placed Nov. 1, 2010. On May 16, 2011, Standard & Poor's Ratings Services raised its counterparty credit ratings on Wilmington Trust Corp. to 'A-/A-2' and on its subsidiary Wilmington Trust Co., DE to 'A/A-1'. The outlook is negative. All ratings were removed from CreditWatch, where they were placed with positive implications on Nov. 1, 2010, following the announcement of the acquisition. The rating actions reflect the completion of the acquisition of Wilmington by M&T. As part of the transaction, M&T will assume all of Wilmington's assets and...

Companies mentioned in this report are:
- Wilmington Trust Corp.
- Wilmington Trust Co. DE
- M&T Bank Corp.

Action: Outlook: Negative
Action: Removed From CreditWatch
Action: Upgraded
Action: Withdrawn

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns READ MORE >

- Wilmington Trust Corp.
- Wilmington Trust Co. DE
- M&T Bank Corp.

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