Shawmut ratings affirmed by S&P.

NEW YORK -- Standard & Poor's Corp. affirmed its ratings on Shawmut National Corp.

The ratings outlook was revised to positive from stable.

Affirmed were BBB-minus senior debt, and BB preferred stock.

For the subsidiary Shawmut Bank, Boston, and Shawmut Bank Connecticut, Hartford, uninsured certificates of deposit and letters of credit were rated BBB for short-term issues and A2 for long-term issues.

"The outlook revision reflects continued strengthening of Shawmut's financial performance measures as asset-quality pressures continue to subside," Standard & Poor's said.

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