» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 127 | NO. 246 | Tuesday, December 18, 2012

Fitch Ratings Downgrades First Horizon National Corp.

Print | Front Page | Email this story | Comments ()

Fitch Ratings has made a downward revision to a rating assigned to the largest bank based in Tennessee.

Fitch downgraded the long-term Issuer Default Ratings of Memphis-based First Horizon National Corp. and its banking subsidiary First Tennessee Bank N.A. to “BBB-” from “BBB.” However, Fitch also assigned a “stable rating outlook” to the ratings.

According to Fitch, the downgrade reflects Fitch’s view of First Horizon’s ongoing future performance amidst a challenging economic environment, including a low interest rate environment. Fitch noted that First Horizon has made progress in shifting its overall strategy but that progress toward returning to stronger profitability has been delayed, due in part to the economy.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 86 182 13,079
MORTGAGES 135 267 17,025
FORECLOSURE NOTICES 0 21 3,322
BUILDING PERMITS 366 366 30,930
BANKRUPTCIES 69 135 12,478
BUSINESS LICENSES 23 43 4,532
UTILITY CONNECTIONS 182 328 19,221
MARRIAGE LICENSES 32 67 3,976

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.