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DBRS upgrades trend on State Street's long-term ratings to 'positive'

DBRS has confirmed State Street Corp.'s ratings, including its AA (low) long-term issuer rating.

The rating agency has also confirmed the ratings of the Boston-based company's subsidiary, State Street Bank and Trust Co.

The trend for all ratings, except for the company's and its subsidiary's short-term ratings, has been revised to "positive" from "stable."

The ratings reflect a "powerful franchise, which includes a dominant global market position in investment servicing and top-tier investment management business," DBRS said.