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Research Update: S&T Bank Rating Lowered To 'BBB' From 'BBB+' Under Revised Criteria; Outlook Stable Dec 11
Standard & Poors, December 2011
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
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.