S&P lifts U.S. Bancorp

Standard & Poor's said it raised its long-term issuer credit rating on U.S. Bancorp (USB) to A+ from A and its issuer credit ratings on the bank's operating subsidiaries to AA-/A-1+ from A+/A-1.

The stand-alone credit profile at the operating level remains a+ because the upgrade is based on an additional notch to the issuer credit rating. Given that the stand-alone credit profile has not changed, the agency said the ratings on U.S. Bancorp's preferred stock and hybrids also remain unchanged.

"The upgrade reflects USB's sustained outperformance versus peers over the last four years, which the stability in its revenue and earnings during and after the financial crisis demonstrate," said S&P credit analyst Stuart Plesser in a news release.

"Additionally, the company maintains risk aversion in terms of acquisitions," Plesser said.

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