Midlantic Corp.'s debt has been upgraded by Standard & Poor's and Duff & Phelps since the recent consummation of the New Jersey bank's merger with PNC Bank Corp.

S&P raised its rating on Midlantic's senior debt to A-minus from BBB and that on subordinated debt to BBB-plus from BBB-minus. Duff & Phelps raised the senior debt to A-plus from BBB-plus, and the subordinated debt to A from BBB.

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