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Fitch Affirms Huntington Bancshares, Inc.'s L-T IDR at 'BBB'; Outlook Negative.

Publication: Business Wire
Publication Date: 14-SEP-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
NEW YORK -- Fitch Ratings affirms Huntington Bancshares, Inc. (HBAN) and Huntington National Bank's ratings, including the Long-term Issuer Default Rating (IDR) at 'BBB' and 'BBB+', respectively. The Rating Outlook remains Negative.

Improving HBAN's relatively low tangible common equity position had been an area of focus for management in 2009 and efforts to boost tangible common equity have been successful. Largely through the issuance of new common stock, the company has raised its tangible common equity to assets ratio approximately 200 bps since year end 2008 (YE08) with the bulk...

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