M&T Bank Corp. today announced it is acquiring Wilmington Trust Corp. in a $351 million stock transaction. We are affirming M&T's 'A-/A-2' ratings as well as the 'A/A-1' ratings of its subsidiary Manufacturers&Traders Trust Co. The outlook remains negative. The affirmation reflects our view that the deal will present manageable downside risk to M&T while serving to broaden its revenue mix and deepen its market presence. On Nov. 1, 2010, Standard&Poor's affirmed its 'A-/A-2' ratings on M&T Bank Corp. and its 'A/A-1' ratings on subsidiary Manufacturers&Traders Trust Co. The outlook on both entities remains negative. At the same time, the 'BB+/B' ratings on Wilmington Trust Corp. and the 'BBB-/A-3' ratings on its subsidiary Wilmington
