DBRS Discontinues Ratings of Redeemed PNC Cap Trust E and NatCity Cap Trust IV Preferred Securities

DBRS, Inc. (DBRS) has today discontinued the ratings of the following Trust Preferred Securities: PNC Capital Trust E and National City Capital Trust IV. The Notes were redeemed on July 30, 2012.

PNC Financial Services Group, Inc.’s ratings, including its Issuer & Senior Debt rating of A (High) and PNC Bank, N.A.’s Deposits & Senior Debt rating of AA (low) all with Stable trends, are unaffected by today’s action.

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

The principal applicable methodology is the Global Methodology for Rating Banks and Banking Organizations. Other methodologies used include the DBRS Criteria – Intrinsic and Support Assessments. Both can be found on the DBRS website under Methodologies.

The sources of information used for this rating include the company documents, the Federal Reserve, the Federal Deposit Insurance Corporation and SNL Financial. DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

Lead Analyst: William Schwartz
Approver: Roger Lister
Initial Rating Date: 6 April 2006
Most Recent Rating Update: 21 June, 2011

For additional information on this rating, please refer to the linking document under Related Research.