PNC Financial Services Group Oct 11
Standard & Poors, October 2011
Abstract
Strong and growing franchise across the Eastern U.S. Profit mix that favors a set of highly differentiated fee-based businesses Strong funding and liquidity profile Moderate credit risk profile The distressed asset portfolio being unwound Revenues likely challenged because of muted loan demand and new regulation Operational and credit risk inherent in acquisition strategy Standard & Poor's Ratings Services' ratings on PNC Financial Services Group (PNC) reflect the company's high profit mix, which favors high-value fiduciary services, its strong liquidity and core funding, its relatively good credit quality versus its peers', and its success to date in navigating challenging operating conditions. The ratings also reflect PNC's potential for improved earnings-generation capacity related to its ongoing cost containment, other business-repositioning efforts, and...
Companies mentioned in this report are: PNC Financial Services Group,PNC Funding Corp.,PNC Bank N.A., Pittsburgh, PA,PNC Institutional Capital Trust A ,UNB Capital Trust I,PNC Institutional Capital Trust B,PFGI Capital Corp.,PNC Capital Trust E,National City Capital Trust IV,PNC Preferred Funding Trust I,PNC Preferred Funding Trust III
Action: Review
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: Full Analysis
PNC Financial Services Group,PNC Funding Corp.,PNC Bank N.A., Pittsburgh, PA,PNC Institutional Capital Trust A ,UNB Capital Trust I,PNC Institutional Capital Trust B,PFGI Capital Corp.,PNC Capital Trust E,National City Capital Trust IV,PNC Preferred Funding Trust I,PNC Preferred Funding Trust III
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