NEW YORK (Standard&Poor's CreditWire) Nov. 21, 2000--Standard&Poor's today placed the ratings of Fifth Third Bancorp on CreditWatch with negative implications, following the announcement of its merger with Old Kent Financial Corp. (see list). At the same time, the ratings on Old Kent Financial Corp. and its subsidiaries are placed on CreditWatch with positive implications. The ratings on Fifth Third's bank subsidiaries are affirmed. Upon completion of the merger, Old Kent's ratings would be equalized with those of Fifth Third. The rating actions consider the significant size of the transaction, relative to both past acquisitions and to Fifth Third's current size. Also, Old Kent Financial Corp., with its weaker capitalization, lower profitability, and less liquid profile, will
