Fifth Third Bancorp

Strong market position in the Midwest and select Southeastern metropolitan areas A solid earnings platform, reflecting the bank's good business diversity Adequate capitalization levels, with proven ability to access the capital markets Historically weak asset quality, which has led to an elevated level of restructured loans Relatively large portfolio of shared national credits Below average earnings quality The stable outlook on Fifth Third Bancorp reflects Standard&Poor's Ratings Services' expectation that the institution's diverse business activities and strong market position in the Midwest and select Southeastern metropolitan areas will continue to generate stable pretax preprovision (PTPP) earnings. In addition, we expect that Fifth Third will sustain a Standard&Poor's risk-adjusted capital (RAC) ratio of approximately 8.50%-9% over the

...Outlook: Stable The stable outlook on Fifth Third Bancorp reflects Standard & Poor's Ratings Services' expectation that the institution's diverse business activities and strong market position in the Midwest and select Southeastern metropolitan areas will continue to generate stable pretax preprovision (PTPP) earnings. In addition, we expect that Fifth Third will sustain a Standard & Poor's risk-adjusted capital (RAC) ratio of approximately 8.50%-9% over the next 18-24 months, comfortably within the "adequate" category (7%-10%), as our criteria describe the term. Lastly, we expect that Fifth Third's asset quality will continue to be good, with slowly declining Standard & Poor's adjusted nonperforming assets (NPAs; including restructured loans and loans 90 days past due and still accruing) and net charge-offs (NCOs) of less than 60 basis points (bps) of loans, on average, per quarter. We could lower the ratings if asset quality worsens. For example, we could lower the rating if Fifth Third's...

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