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Synovus (SNV) Arm Ratings Affirmed by Moody's, Outlook Stable
SNVSynovus Financial (SNV) ZACKS·2024-06-07 15:21

The bank's long-term issuer rating has been affirmed at Baa3. Its long- and short-term local currency deposit ratings were maintained at A3 and Prime-2, respectively. Moody's upheld the stable outlook for the long-term issuer and deposit ratings. Moody's rating affirmed Synovus Bank's ratings, demonstrating a balance between the credit headwinds related to a significant concentration in commercial real estate (CRE) loans and the pressures that result in asset quality and profitability. The higher level of c ...