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U.S. Bank of Utah parent sees debt downgraded

Published December 7, 2012 9:49 am
This is an archived article that was published on sltrib.com in 2012, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

U.S. Bancorp, the Minneapolis-based parent company of U.S. Bank Utah that operates some 70 branches in the state, saw its senior debt downgraded by Moody's Investors Service as record-low interest rates pressure earnings.

The senior debt rating was lowered to A1 from Aa3, reflecting "the inescapable challenges that even a well managed and diverse banking franchise currently faces," the rating firm said in a statement about U.S. Bancorp.

U.S. Bancorp is also grappling with regulation and "heightened lending competition," that could pressure revenue, Moody's said.




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