On March 14, 2003, Standard&Poor's Rating Services raised its long-term counterparty credit ratings on M&T Bank Corp (M&T) to 'A-' and its long- and short- term counterparty credit ratings on M&T's bank subsidiary to 'A/A-1' and removed them from CreditWatch with positive implications, where they were placed on Sept. 26, 2002. The short-term counterparty credit rating on M&T is affirmed. At the same time, Standard&Poor's raised its long- and short-term counterparty credit ratings on Allfirst Financial Inc.'s (Allfirst) bank subsidiaries to 'A/A-1' and removed them from CreditWatch with positive implications, where they were placed on Sept. 26, 2002. The ratings on Allfirst are affirmed. The outlooks on all Allfirst entities are stable. Allfirst and its bank
