NEW YORK (Standard&Poor's) Jan. 24, 2014--Fifth Third Bancorp reported adequate results for fourth-quarter 2013 despite lower fee income and higher litigation expenses, which offset increased interest income related to the growth of earning assets. Based on these results, which are in line with our expectations, our ratings on Fifth Third (BBB+/Stable/A-2) are unchanged. Fifth Third's fourth-quarter core net income of $342 million (adjusted for gains from the valuation of Vantiv warrants, Vantiv related tax benefits, and expenses associated with the redemption of trust preferred securities) is down from $362 million in the previous quarter (adjusted for the sale of Vantiv shares) and $393 million in fourth-quarter 2012. Fifth Third's 2013 full-year adjusted net income ended essentially flat with
