...NEW YORK (S&P Global Ratings) Sept. 22, 2016--S&P Global Ratings today lowered its ratings on two issues supported by letters of credit (LOCs) from Huntington National Bank to '###+' from 'A-/A-2' and subsequently removed them from CreditWatch with negative implications, where we placed them on Feb. 25, 2016 (see list). Today's rating actions reflect Huntington Bancshares Inc.'s Aug. 17, 2016, acquisition of FirstMerit Bank N.A. They also reflect the subsequent withdrawal of our long- and short-term components of our issuer credit rating on FirstMerit Bank N.A. The long-term components of our ratings on the bonds are based on our long-term issuer credit rating on Huntington National Bank ('###+'), the LOC provider for both issues. Following the acquisition of FirstMerit Bank N.A., Huntington National Bank N.A., an operating subsidiary of Huntington Bancshares Inc., will now provide support in lieu of FirstMerit Bank N.A. The long-term components of our ratings address the likelihood that...
