Zion's Bancorp: Moody's confirmed senior notes at Baal. Zions, based in Salt Lake City, has announced plans to acquire Discount Corp. of New York, a primary dealer of government securities, for $65 million.
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Moody's said the rating decision was based on Zions' plan to reduce Discount's risky assets and proprietary trading.
Also confirmed were the subsidiary Zions First National Bank's A2 ratings for long-term deposits and letters of credit and Prime-1 grade for short-term bank deposits.
