Keycorp: Duff & Phelps raised Keycorp's ratings, and those of Key Bank of New York, its principal subsidiary. Keycorp senior debt was raised to A from A-minus, subordinated debt to A-minus from BBB-plus, preferred stock to BBB-plus from BBB and commercial paper to Duff 1 from Duff 1-minus.
Duff & Phelps said, "the rating upgrades reflect Keycorp's solid operating fundamentals. Geographic diversification and a consumer/small business lending focus have helped Keycorp maintain better-than-average asset quality and an overall lower risk profile."
