NEW YORK -- Standard & Poor's Corp. said it may upgrade its BBB-plus senior and BBB subordinated debt ratings of First Security Corp., Salt Lake City.
About $114 million in debt would be affected.
At the same time, the rating agency said it may upgrade its A-minus/A-2 uninsured certificate of deposit ratings of First Security Bank of Utah and First Security Bank of Idaho, both subsidiaries of First Security.
S&P said the actions are due to First Security's track record of improved financial performance over the past several years.
If these ratings are raised, S&P said First Security's senior debt could be raised to A-minus and the subordinated to BBB-plus.
