Shawmut National Corp.: Duff & Phelps Credit Rating Co. upgraded Shawmut National Corp. and its lower-tier holding companies, Shawmut Corp. and Hartford National Corp., as well as the ratings of its two subsidiary banks, Boston-based Shawmut Bank and Hartford-based Shawmut Bank Connecticut.

The senior debt rating of Shawmut Corp. and Hartford National was raised to BBB from BBB-minus. The subordinated debt rating of Shawmut National Corp., Shawmut Corp.. and Hartford National Corp. was upgraded to an investment grade BBB-minus from a junk rated BB-plus. The preferred stock rating of Shawmut National Corp. was raised to BB-plus from BB.

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