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M&T upgraded to stable by S&P Global Ratings
M&T upgraded to stable by S&P Global Ratings
Listen to this articleS&P Global Ratings has revised its outlook on M&T Bank Corp. to stable from negative, reflecting an improvement in M&T’s balance sheet over the past year, including improved capital and asset quality ratios and reduced commercial real estate exposures.
M&T’s rating is now BBB+/Stable/A-2 from a BBB+/Negative/A-2.
The bank was one of six – and the only one in the Rochester region – that the S&P revised to stable on improved ability to handle commercial real estate challenges.
“The stable outlook reflects our view that, over at least the next two years, M&T will maintain solid financial performance, largely in line with similarly rated peers, and avoid a sharp deterioration in asset quality,” Catherine Mattson, primary credit analyst with S&P, wrote in a release.
Buffalo-based M&T ranked as the Rochester region’s largest bank with $4.4 billion in local deposits in 2024, according to the most recent RBJ list. The local deposit amount represents 2.7 percent of the bank’s business.
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