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DBRS confirms State Street
DBRS, Inc. said it confirmed State Street Corp.'s issuer and senior debt rating of AA (low) and State Street Bank and Trust Co.'s senior debt rating of AA.
The trend remains stable.
The confirmation is based on State Street's large-scale, broad-range and globally diverse financial services offerings to investors, according to the agency.
The difficult operating environment featuring volatile capital markets, increased litigation and low interest rates is pressuring revenues and earnings, but DBRS said it believes the underlying earnings and sound business model to be consistent with a stable trend.
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