Fifth Third Bancorp reported a $98 million fourth-quarter loss but a $737 million net profit for 2009. We are affirming our ratings on Fifth Third Bancorp. We remain concerned that a weak economy could resume higher levels of nonperforming asset (NPA) formation and subsequent charge-offs. On Jan. 28, 2010, Standard&Poor's Ratings Services affirmed its 'BBB/A-2' counterparty credit rating on Fifth Third Bancorp (Fifth Third). The outlook is negative. The affirmation follows Fifth Third's fourth-quarter earnings announcement that it recorded a $98 million net loss with a $737 million profit for full-year 2009. "The fourth-quarter results are within our expectations for the company given economic conditions and the loan mix," said Standard&Poor's credit analyst Dan Teclaw. Management
