Signet Banking Corp.: Standard & Poor's Corp. affirmed its BB-plus subordinated debt rating of Signet Banking Corp. S&P also affirmed its BBB/A2 rating for uninsured CDs of Signet Bank Virginia and Signet Bank Maryland and the two banks' issues backed by letters of credit.
The agency also revised the bank's ratings outlook to "positive" from: "stable.' The outlook revision reflects Signet's continued progress in disposing of its large book of troubled commercial real estate assets, as well strong operating performance measures derived principally from its rapidly growing credit card portfolio.
