Valley has continued to report asset quality trends that are superior to peers'. We are revising our outlooks on Valley and its main banking subsidiary to stable from negative, and affirming our 'A-' counterparty credit rating on Valley and our 'A/A-1' counterparty credit ratings on the subsidiary. The outlook is stable. We assume that Valley's local markets will continue to be relatively resilient, and we expect that any asset quality deterioration will be manageable. NEW YORK (Standard&Poor's) June 28, 2010--Standard&Poor's Ratings Services said today that it revised its outlooks on Valley National Bancorp and its main banking subsidiary, Valley National Bank, to stable from negative. At the same time, we affirmed our 'A-' counterparty credit rating
