In Brief: S&P Downgrades Outlook for MBNA, Units

Standard & Poor's on Monday revised its outlook for MBNA Corp. and its units to "negative" from "stable."

The revision reflects continuing increases in MBNA's leverage as its rapid loan growth outpaces capital generation, S&P said. The ratings agency said MBNA's capital is heavily weighted with lesser-quality capital, such as trust-preferred stock and intangible assets.

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