Regions Wins 29 Percent Acceptance For Swap

Stock quotes in this article: RF  

On Tuesday, Fitch Ratings downgraded the long-term issuer default rating of Regions Financial and its Regions Bank subsidiary, saying the bank is unlikely to make a profit this year and reported serious deterioration in the quality of its loans during the first quarter. On Wednesday, Regions was among 18 banks whose ratings were cut by Standard & Poor's amid concern about further weakening in the financial sector.

Shares of Regions Financial rose 9 cents to $4.08 in morning trading.
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