S&PGlobal Ratings on July 13 put Buffalo, N.Y.-based 'sratings on CreditWatch with positive implications.
The ratingagency's move comes after the Federal Reserve the company's by Cleveland-basedKeyCorp.
Among theratings placed on watch were First Niagara's BBB- issuer credit and seniorunsecured debt ratings. S&P Global Ratings has a positive view of thetransaction and expects to resolve the CreditWatch within the upcoming 90 daysor sooner, and it intends to raise First Niagara's ratings to the same level asKeyCorp's upon deal closing. The ratings will then be withdrawn.The rating agency, however, will maintain its rating on unit .
S&P Global Ratingsand S&P Global Market Intelligence are owned by S&P Global Inc.