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Fitch says may cut 9 U.S. banks ratings

Fitch says may cut 9 U.S. banks ratings
Fri May 15, 2009 2:20pm EDT

NEW YORK, May 15 (Reuters) - Fitch Ratings said on Friday it may cut the ratings of nine U.S. banking groups including Wells Fargo because they are increasingly vulnerable to deteriorating loans.

Fitch, in a release, placed on review for possible downgrade the ratings of; BB&T Corp (BBT.N), Discover Financial Services (DFS.N), Fifth Third Bancorp (FITB.O), KeyCorp (KEY.N), M&T Bank Corp, Popular, Inc, Regions Financial Corp (RF.N), SunTrust Banks Inc (STI.N) and Wells Fargo & Co (WFC.N).

"Today's actions reflect Fitch's view that these institutions show an incrementally higher level of vulnerability to the credit deterioration which Fitch expects to continue across virtually all loan categories," the rating agency said. (Reporting by John Parry and Caryn Trokie; Editing by James Dalgleish)


LINK: http://www.reuters.com/article/marketsNews/idUSN1528264320090515