DBRS Discontinues Rating of National City Preferred Capital Trust I

DBRS Inc. (DBRS) has today discontinued the rating of National City Preferred Capital Trust I, an affiliate of National City Corporation, which was acquired by PNC Financial Services Group, Inc. in December 2008. The notes were redeemed on December 10, 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 applicable methodologies include the DBRS Criteria: Intrinsic and Support Assessments and DBRS Criteria: Bank and Bank Holding Company Trust Preferred Securities. These can be found at: http://www.dbrs.com/about/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.

[Amended on September 8, 2014, to reflect actual methodologies used and rating committee chair.]

Lead Analyst: Mark Nolan
Rating Committee Chair: Roger Lister
Initial Rating Date: 6 April 2006
Most Recent Rating Update: 14 February 2013

For additional information on this rating, please refer to the linking document below.