Research Update: Santander BanCorp Ratings Lowered To 'BBB-/A-3' Following Downgrade Of Parent; Outlook Is Negative Oct 12
- Language: English
- Published: October 2012
Following a review of S&T Bancorp (S&T) under Standard & Poor's revised bank criteria (published on Nov. 9, 2011), we have lowered our rating on S&T to 'BBB' from 'BBB+'. The outlook is stable. The anchor for S&T is 'bbb+'. Our ratings reflect S&T's moderate business position, adequate capital and earnings, adequate risk position, average funding, and adequate liquidity scores. We expect slight growth in assets from small acquisitions, generally improving asset-quality metrics, and stable capital levels during the next few years. As we previously announced, on Dec. 13, 2011, Standard & Poor's Ratings Services lowered its long-term issuer credit rating (ICR) on S&T Bank to 'BBB' from 'BBB+'. The outlook is stable. We base our ratings on S&T on...
Companies mentioned in this report are: S&T Bank
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Product Type: Research Update
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