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DBRS Morningstar confirms Truist Financial

DBRS Morningstar confirmed the A long-term issuer rating of Truist Financial Corp., the resulting holding company created from the completed merger between BB&T Corp. and SunTrust Banks Inc.

Truist Bank, the primary banking unit renamed from Branch Banking and Trust Co., was also confirmed. The trend on all ratings is positive.

The support assessment for Truist Financial is SA3, while that for Truist Bank is SA1. The intrinsic assessment for Truist Bank is AA.

The ratings action reflects the rating agency's view that the merger will create more scale for the combined company and diversify its lending activities and revenues from fees.