NEW YORK (Standard&Poor's CreditWire) May 17, 2000--Standard&Poor's today affirmed its ratings on Manufacturers&Traders Trust Corp. (M&T Bank) and its subsidiaries. The outlook remains stable. At the same time, Standard&Poor's affirmed its ratings on Keystone Financial Inc. and its subsidiaries, and revised the outlook to stable from negative (see list). The rating actions follow the announcement of holding company M&T Bank Corp.'s plan to acquire Keystone Financial in a transaction for a combination of stock and cash. The acquisition will be accounted for as a purchase transaction. The deal will increase M&T's assets by approximately $7.0 billion to $30.2 billion. It will notably enhance M&T's presence in Pennsylvania and expand its geographic footprint
