Zions: Credit Trouble Creates Opportunity (Rating Upgrade)

Regional lender Zions Bancorporation (NASDAQ: ZION ) pre-disclosed a ~$50M earnings hit for the third quarter last week, causing a 10%+ sell-off in the bank's shares. The bad loans were provided as credit facilities to investment vehicles that acquired distressedAnalyst’s Disclosure:I/we have a beneficial long position in the shares of USB either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (othe ...