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Moody's Downgrades Trustmark, Outlook Negative

Stock quotes in this article: TRMK  

NEW YORK (AP) — Moody's Investors Service on Tuesday downgraded the ratings of Trustmark Corp. and said the regional bank's outlook is negative.

Moody's cut the parent corporation's ratings by one notch to Baa1 from A3. The lead bank subsidiary, Trustmark National Bank, which operates in Florida, Mississippi, Tennessee and Texas, had its long-term bank deposits rating cut to A3 from A2, and its bank financial strength rating cut to C from C+.

The bank's short-term ratings were lowered to Prime-2 from Prime-1. The ratings remain investment grade. ...

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