DBRS Assigns AAA Rating to Zions Bancorporation’s FDIC-Guaranteed Notes Issuance

DBRS has today assigned a rating of AAA to the $254.9 million of Senior Floating Rate Notes due June 21, 2012 issued by Zions Bancorporation. The Senior Notes are being issued pursuant to an Offering Circular dated January 15, 2009.

The AAA rating is based on the explicit guarantee provided by the Federal Deposit Insurance Corporation (FDIC) Temporary Liquidity Guarantee Program (TLGP), which is backed by the full faith and credit of the United States. Under the TLGP, the FDIC guarantees payment of qualifying debt issued by eligible U.S. bank holding companies, such as Zions Bancorporation and banks.

The AAA rating reflects DBRS’s opinion as to the guarantor’s ability to honor the guarantee as determined by internal assessment of the sovereign. All other debt ratings, including Zions Bancorporation’s A (low) Issuer & Senior Debt, remain at their current levels. All long-term non-guaranteed ratings have a Stable trend.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating Banks and Bank Holding Companies Operating in the United States which can be found on our website under Methodologies.

This is a Corporate (Financial Institutions) rating.