New York, December 17, 2012 -- Moody's Investors Service upgraded the long-term ratings of Zions Bancorporation and its subsidiaries. Zions Bancorporation was upgraded to Ba2 from B1 for subordinated debt. Its lead bank, Zions First National Bank, was upgraded to Baa3 from Ba1 for long-term deposits and to Prime-3 from Not-Prime for short-term deposits. The standalone bank financial strength rating was affirmed at D+, but its baseline credit assessment was raised to baa3 from ba1. The holding company's short-term rating was affirmed at Not-Prime. Following the upgrade, the rating outlook is stable.

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