Daily Stock Setups

Fitch Assigns U.S. Resi Servicer Ratings to PNC Bank

Posted on: Wed, 18 Nov 2009 14:33:00 EST

Symbols: PNC.C

Are you looking to increase your ETF knowledge?

NEW YORK, Nov 18, 2009 (BUSINESS WIRE) --
PNC.C | Quote | Chart | News | PowerRating -- Fitch Ratings has assigned U.S. residential servicer ratings to PNC
Bank, N.A. (PNC) as follows:

--Residential primary servicer rating for Prime product at 'RPS2+';

--Residential primary servicer rating for Alt-A product at 'RPS2+'.

The rating actions are due to PNC's merger with National City Bank,
which was completed on Nov. 7, 2009. PNC, through its predecessor, has
an experienced servicing management team, comprehensive controls, and
proficient loan administration practices. For more information, see
Fitch's press releases on National City Bank's servicer ratings dated
Nov. 18, 2009 and Sept. 14, 2009. The ratings also reflect PNC's
financial strength (rated 'A+', with a Stable Outlook, by Fitch). In
addition, the ratings were determined in accordance with Fitch's
criteria 'Rating U.S. Residential Mortgage Servicers' and 'Global Rating
Criteria for Structured Finance Servicers'.

Fitch rates residential mortgage primary, master, and special servicers
on a scale of 1 to 5, with 1 being the highest rating. Within some of
these rating levels, Fitch further differentiates ratings by plus (+)
and minus (-) as well as the flat rating. For more information on
Fitch's residential servicer rating program, please see Fitch's report
'Rating U.S. Residential Mortgage Servicers', dated Nov. 29, 2006 and
'Global Rating Criteria for Structured Finance Servicers' dated Sept.
30, 2009, which are available on the Fitch Ratings web site at 'www.fitchratings.com'.

Additional information is available at 'www.fitchratings.com'.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND
DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING
THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS.
IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE
AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'.
PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS
SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS
OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES
AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF
THIS SITE.

SOURCE: Fitch Ratings


Fitch Ratings, New York 
Thomas Crowe, +1-212-908-0227 
Mary Kelsch, +1-212-908-0563 
Media Relations 
Sandro Scenga, +1-212-908-0278 
sandro.scenga@fitchratings.com

For full details on (PNC.C) PNC.C. (PNC.C) has Short Term PowerRatings at TradingMarkets. Details on (PNC.C) Short Term PowerRatings is available at This Link.

More News: Market Updates | Stock Alerts | All Trading News

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302

All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.