Standard & Poor's Corp. downgraded NBC Bancorp, citing risks entailed in the Detroit banking company's strategy of buying weaker financial institutions in the Midwest.

The rating on its senior debt was reduced to AA-minus from AA, and subordinated debt was cut to A-plus from AA-minus. About $540 million in debt was affected.

NBD's ratings were placed under review for a possible downgrading in March after the company announced plans to acquire INB Financial Corp., Indianapolis.

Standard & Poor's said it is considering upgrading INBs A-minus senior debt.

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