DBRS Announces Ratings Actions to Reflect Fifth Third Bancorp’s Charter Consolidation

DBRS has today taken rating actions following the consolidation of Fifth Third Bancorp’s (Fifth Third or the Company) Michigan and National banking subsidiaries, Fifth Third (Michigan) and Fifth Third Bank, National Association, into a single banking subsidiary, Fifth Third Bank; its State of Ohio charter.

Effective September 30, 2009, Fifth Third Bank (Michigan) and Fifth Third Bank, National Association merged into Fifth Third Bank to simplify reporting, improve efficiencies, and decrease regulatory and capital burdens. As a result of the consolidation, DBRS has discontinued the Deposits & Senior Debt and Short-Term Instruments ratings of Fifth Third Bank (Michigan). The Company’s(Issuer & Senior Debt of ‘A’) and Fifth Third Bank’s (Deposits & Senior Debt of A (high)) ratings remain unchanged. The trend on all ratings remains Negative.

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

The applicable methodologies are Rating Banks and Bank Holding Companies Operating in the United States, and Enhanced Methodology for Bank Ratings – Intrinsic and Support Assessments which can be found on our website under Methodologies.

This is a Corporate (Financial Institutions) rating.