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EARNINGS UPDATE: Regions Financial Corp. Ratings Unaffected By Fourth-Quarter Results Jan 12
Standard & Poors, January 2012
NEW YORK (Standard & Poor's) Jan. 25, 2012--Standard & Poor's Ratings Services today said its ratings on Regions Financial Corp. (BB+/Stable/B) are not affected by the company's fourth-quarter results, which we view as satisfactory and generally consistent with our expectations. Regions reported a net loss of $602 million after preferred dividends, largely as a result of a $731 million noncash goodwill impairment stemming from the company's announcement that it plans to sell its Morgan Keegan & Co. brokerage subsidiary. Results were hurt by lower service charges and higher non-interest expenses, but aided by a lower loan-loss provision and a slightly higher net interest margin (NIM). The NIM rose by 4 basis points from the third quarter to 3.08%, and we...
Companies mentioned in this report are: Regions Financial Corp.
Action: General Comment
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.
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Regions Financial Corp.