S&P cited greater volatility in financial markets during credit cycles and tighter regulatory supervision as primary reasons for the ratings changes. The company also said the changes reflect its ongoing broad-ranging reassessment of industry risk for U.S. financial institutions.
Standard & Poor's lowered its ratings on the following:
Associated Banc Corp (ASBC), Astoria Financial (AF), BB&T Corp (BBT), Capital One Financial (COF), Carolina First Bank, Citizens Republic Bancorp (CRBC), Comerica (CMA), Fifth Third Bancorp (FITB), First National Bank of Omaha, Huntington Bancshares (HBAN), KeyCorp (KEY), M&T Bank Corp (MTB), PNC Financial Services Group (PNC), Regions Financial (RF), Susquehanna Bancshares (SUSQ), Synovus Financial (SNV), U.S. Bancorp (USB), Valley National Bancorp (VLY), Webster Financial (WBS), Wells Fargo (WFC), Whitney Holding (WTNY), and Wilmington Trust (WL).
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