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28.01.2013 20:26:00
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FirstMerit Corporation -- Moody's assigns A3 subordinate and Baa2 (hyb) preferred stock ratings to FirstMerit Corporation; on review for downgrade
New York, January 28, 2013 -- Moody's Investors Service assigned subordinate debt (A3) and non-cumulative perpetual preferred stock (Baa2 (hyb)) ratings to FirstMerit Corporation (FirstMerit), the holding company of Akron, Ohio-based FirstMerit Bank (standalone bank financial strength rating/baseline credit assessment of B-/a1; deposit ratings of A1/Prime-1; on review for downgrade). The subordinate and preferred stock ratings were placed on review for downgrade, consistent with the review on the lead bank's ratings.
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