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Moody's affirms PNC

Moody's on March 31 affirmed the ratings of PNC Financial Services Group Inc. and its units.

Among those affirmed were the Pittsburgh-based company's A3 long-term issuer rating, A3 senior debt rating, (P)Baa2 noncumulative preferred shelf rating, and (P)A3 subordinate shelf and senior unsecured shelf ratings.

The rating agency also affirmed unit PNC Bank NA's long-term issuer rating of A2, long-term deposit rating of Aa2, short-term deposit rating of P-1, and baseline credit assessment of a2, among other ratings.

The outlook on the ratings remains stable.

According to Moody's, the ratings reflect the company's consistently strong balance sheet and diverse earnings profile.

PNC Financial Services is the ultimate parent of PNC Bancorp Inc. and its immediate unit, PNC Bank NA.