Standard & Poor's Ratings Group has downgraded Star Banc Corp. noting an increase in leverage from its acquisition of 24 branches from Household Bank FSB.

S&P lowered its rating on $500 million of senior bank notes to A/A1 from A-plus/A1; $150 million subordinated notes to A-minus from A; uninsured certificates of deposit to A/A1 from A-plus/A1; long-term counterparty to A from A-plus.

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