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Bulletin: Fifth Third Bancorp Ratings Unaffected Following The Announcement Of An Agreement In Principle With The SEC

Published Nov 06, 2013

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Abstract:

NEW YORK (Standard&Poor's) Nov. 6, 2013--Standard&Poor's Ratings Services today said that its ratings on Fifth Third Bancorp (BBB+/Stable/A-2) are unchanged following the company's announcement of an agreement in principle with the Securities and Exchange Commission (SEC). The agreement in principle pertained to an outstanding investigation into the bank's accounting practices for a portfolio of commercial loans that should have been classified as held for sale in the third quarter of 2008 and not in the fourth quarter of that year, as the company recorded them. As a result, in addition to paying a-yet-undetermined civil monetary penalty, Fifth Third made certain management changes, including the replacement of the chief financial officer with Tayfun Tuzun, who was formerly

Report Type:

Bulletin

Ticker

FITB

Issuer

Fifth Third Bancorp

GICS

Regional Banks (40101015)

Sector

Global Issuers , Public Finance

Country

United States

Region

United States

Format:

HTML

EARNINGS ANALYSIS: Despite Declining Mortgage Banking Revenue, Fifth Third's Earnings Will Likely Increase – 2014/01/24 – US$ 150.00

EARNINGS ANALYSIS: Fifth Third Bancorp Posted Moderate Second-Quarter Results; Full-Year Earnings Will Likely Be Flat – 2014/07/17 – US$ 150.00

Fifth Third Bancorp – 2014/10/16 – US$ 500.00

Summary: Fifth Third Bancorp – 2014/10/16 – US$ 225.00

Fifth Third Bancorp – 2015/11/11 – US$ 500.00

EARNINGS ANALYSIS: Despite Fifth Third's Lower Mortgage Banking Revenue, Earnings Will Likely Remain Stable – 2013/10/17 – US$ 150.00

Fifth Third Bancorp – 2013/09/30 – US$ 500.00

Summary: Fifth Third Bancorp – 2013/09/30 – US$ 225.00

Fifth Third Bancorp Rating Raised To 'BBB+'; Outlook Stable; Operating Subsidiary Fifth Third Bank Rating Raised To 'A-' – 2013/09/25 – US$ 150.00

Research Update: Fifth Third Bancorp Rating Raised To 'BBB+'; Outlook Stable; Operating Subsidiary Fifth Third Bank Rating Raised To 'A-' – 2013/09/25 – US$ 225.00

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MLA:	S&P Global Ratings’ Credit Research. "Bulletin: Fifth Third Bancorp Ratings Unaffected Following The Announcement Of An Agreement In Principle With The SEC" Nov 06, 2013. Alacra Store. May 03, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Fifth-Third-Bancorp-Ratings-Unaffected-Following-The-Announcement-Of-An-Agreement-In-Principle-With-The-SEC-1213373>

APA:	S&P Global Ratings’ Credit Research. (). Bulletin: Fifth Third Bancorp Ratings Unaffected Following The Announcement Of An Agreement In Principle With The SEC Nov 06, 2013. New York, NY: Alacra Store. Retrieved May 03, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Fifth-Third-Bancorp-Ratings-Unaffected-Following-The-Announcement-Of-An-Agreement-In-Principle-With-The-SEC-1213373>

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