...Ratings Upgraded: Fitch Ratings upgraded State Street Corporation's (State Street) long-term issuer default rating (IDR) to `AA-' from `A+' on Aug. 14, 2014. The upgrade reflects State Street's improved and seasoned risk management practices, continued conservative overall balance sheet posture and ongoing efforts to streamline its business, which Fitch believes will lead to positive operating leverage in a higher short-term interest rate environment. Outlook Revised to Stable from Positive: In conjunction with the upgrade, Fitch has revised State Street's Rating Outlook to Stable from Positive. State Street's ratings are now at the higher end of their potential rating range and are in line with direct peer comparisons such as Bank of New York Mellon (BK) and Northern Trust Corporation (Northern). Leading Franchise in Asset Custody: State Street's strong franchise in asset custody (AUC) and administration, as well as asset management, has created a good competitive position for the company....
