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DBRS confirms ratings of SunTrust Banks

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DBRS confirms ratings of SunTrust Banks

DBRS on March 30 confirmed the ratings of Atlanta-basedSunTrust Banks Inc.and unit SunTrust Bank,and maintained the stable trend on all ratings.

The rating agency confirmed the company's issuer and seniordebt rating at A (low), subordinated debt rating at BBB (high), perpetualpreferred stock rating at BBB (low), and short-term instruments rating at R-1(low). The bank's A deposits and senior debt rating, A (low) subordinated debtrating and R-1 (low) short-term instruments rating were also confirmed.

The ratings and stable trend, according to DBRS, reflectSunTrust's "strong, demographically attractive banking franchise,well-diversified revenue stream, and solid balance sheet fundamentals."DBRS added that the ratings could be upgraded if the company "can improvethe level of earnings, outperforming similarly rated peers, while growing itsfranchise and maintaining its sound balance sheet."