Fitch revises Regions view to positive

Fitch Ratings said it revised the outlook for Regions Financial Corp. to positive from stable and affirmed the company’s issuer default rating of BBB+.

“The positive outlook is influenced by continued modest improvement in asset quality including levels of nonperforming assets. As of third-quarter 2019 (3Q19), levels of NPAs including accruing TDRs represented 1.43% of loans which was modestly below a peer median of 1.51%. This represents an improvement from year-earlier levels of 1.60%, which was slightly higher median levels. However, RF’s five-quarter average net charge-off rate of 0.42% compares unfavorably to a peer average around 0.31%,” said Fitch in a press release.

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