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Fitch affirms 7 large US regional banks, revises outlook on 3

Fitch Ratings affirmed the ratings of seven large U.S. regional banks following its peer review of the group.

Fitch affirmed KeyCorp's long- and short-term issuer default ratings at A-/F1 with a stable outlook. The ratings reflect the company's diverse business model, with outsize strength in commercial banking and investment banking aimed at middle-market companies.

The rating agency also affirmed Fifth Third Bancorp's long- and short-term issuer default ratings at A-/F1 with a stable outlook. The affirmation is supported by the company's good financial profile, which includes solid liquidity and funding, and stable asset quality.

Citizens Financial Group Inc.'s long- and short-term issuer default ratings were affirmed BBB+/F1. The outlook was revised to positive from stable to reflect a trend of steadily improving profitability that is gradually narrowing the performance gap relative to higher-rated peers.

Fitch affirmed Regions Financial Corp.'s long- and short-term issuer default ratings at BBB+/F1 and revised the outlook to positive from stable. The affirmation is supported by the company's solid profile characterized by a strong funding and liquidity mix. The positive outlook is influenced by continued modest improvement in asset quality including levels of nonperforming assets.

Comerica Inc.'s long- and short-term issuer default ratings were affirmed at A/F1, reflecting its consistently strong asset quality and strong company profile, particularly in commercial lending. The outlook was revised to negative from stable because of anticipated earnings volatility related to the company's interest rate risk compared to peers and its relative reliance on interest income in a declining interest rate environment.

Huntington Bancshares Inc.'s long- and short-term issuer default ratings were affirmed at A-/F1 with a stable outlook. The affirmation takes into account the company's consistent earnings performance, stable liquidity and solid asset quality.

Fitch affirmed M&T Bank Corp.'s long- and short-term issuer default ratings at A/F1 with a stable outlook. The ratings reflect the company's stable franchise and market positions within its geographic footprint and consistent financial performance through various economic downturns.

Separately, Fitch recently upgraded Zions Bancorp. NA