DBRS confirms Zions

DBRS, Inc. said it confirmed Zions Bancorp.'s BBB (low) issuer and senior debt rating.

The trend was revised to stable from negative.

The change in trend reflects Zions' improved asset quality, turnaround in profitability and augmented capital position, according to the agency.

Zions' ratings are underpinned by its demographically appealing banking franchise located in 10 western and southwestern states, including its sound small and middle market banking business and its ample funding profile, the agency said.

Ratings also reflect the company's improved, yet still strained asset quality, commercial real estate concentration and sizable level of stressed trust preferred collateralized debt obligations, the agency noted.

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