Moody's Investors Service Inc. said Thursday it may raise the debt ratings of Shawmut National Corp. and Baybanks Inc.

The possible upgrades, the latest sign of the New England economic recovery, would propel Shawmut's subordinated debt and Baybanks senior debt out of junk-bond status.

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.