NEW YORK - Moody's Investors Service placed the long-term debt ratings of Midlantic Corp. under review for a possible upgrading.

Moody's also put the long-term and short-term ratings of Midlantic National Bank under review for possible upgrading. About $370 million of debt is affected.

The review followed the New Jersey company's announcement of its first- quarter results. Moody's views Midlantic's profits, capital, and asset- quality trends positively.

The review will focus on the sustainability of the bank's earnings, its strategy to expand its franchise, and its capital plans.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.