NEW YORK (Standard&Poor's) Oct. 22, 2008--Standard&Poor's Ratings Services said today that its 'A+' long-term counterparty credit rating on Fifth Third Bancorp (Fifth Third) remains on CreditWatch with negative implications, where it was placed on Sept. 3, 2008. The CreditWatch listing was a result of a broader review of U.S. regional bank institutions and reflects our concern about Fifth Third's credit performance and profitability, particularly in the context of the deterioration in Florida and Michigan's residential construction and housing markets. "In the third quarter, Fifth Third recorded its second consecutive quarterly loss, which was driven by an outsize loan-loss provision related to significant ongoing credit quality deterioration. We expect the portfolios related to Florida and Michigan's residential
