...Outlook Revised to Negative: Fitch Ratings has affirmed First National of Nebraska, Inc.'s (FNNI) Long-Term and Short-Term Issuer Default Ratings (IDRs) at 'BBB' and 'F2', respectively. The Rating Outlook is revised to Negative from Stable, as Fitch anticipates significant earnings and credit pressure due to the disruption to economic activity and financial markets resulting from the coronavirus pandemic. Franchise, Funding Profile Support Rating: In affirming FNNI's ratings, Fitch is signaling its view that the bank entered the pandemic and ensuing sharp financial contraction in a position of modest strength, supported by a solid deposit franchise and funding and liquidity profile. Fitch believes FNNI's ratings have reasonable headroom such that an Outlook revision back to Stable from Negative without a downgrade is possible. Credit Stress Expected: FNNI could experience an outsized asset quality impact due to concentrations in vulnerable sectors, particularly within its credit card portfolio,...
