S&P Global Ratings on Feb. 27 revised its outlook on Cullen/Frost Bankers Inc. and subsidiary Frost Bank to "stable" from "negative."
It also affirmed Cullen/Frost's A- issuer credit rating and the bank's A long-term and A-1 short-term issuer credit ratings.
The outlook change was attributed to improvements in the energy industry, which should in turn boost the San Antonio-based company's loan performance. It is also less exposed to the sector, with outstanding energy loans comprising 11.4% of the total book at the end of 2017, down from 16% some years back.
S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.
