M&T Bank Corp. has successfully integrated and restructured its latest acquisition, Hudson City, and its financial performance has remained stable. We are revising our outlook on M&T Bank Corp. and its operating company to stable from negative. We are affirming our 'A-' long-term issuer credit rating on M&T Bank Corp. and our 'A' long-term issuer credit rating on its operating company. The stable outlook reflects our expectation that the company will maintain its good asset quality metrics and conservative underwriting despite its concentration in commercial real estate, which we view as higher than peers'. On May 24, 2017, S&P Global Ratings revised the outlook on M&T Bank Corp. and its operating company to stable from negative. At the same time,
