NEW YORK--(BUSINESS WIRE)--Fitch Ratings has assigned PNC Financial Services Group, Inc. (PNC) $5 billion commercial paper program a short-term debt rating of 'F1'. The rating action details follow at the end of this press release.
PNC's short-term IDR is currently 'F1' and was last affirmed on Oct. 7, 2014 following Fitch's large regional bank peer review.
KEY RATING DRIVERS - SHORT-TERM DEBT
PNC's short-term debt ratings are equalized with the entity's short-term IDR (currently 'F1') in accordance with Fitch's rating criteria.
RATING SENSITIVITIES -SHORT-TERM DEBT
PNC's short-term debt ratings are sensitive to any changes in the IDRs for PNC.
Fitch has assigned the following rating:
PNC Financial Services Group
-- Short-Term Debt at 'F1'
Additional information is available on www.fitchratings.com.
Applicable Criteria and Related Research:
-- 'Global Financial Institutions Rating Criteria (Jan. 31, 2014').
Applicable Criteria and Related Research:
Global Financial Institutions Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=732397
Additional Disclosure
Solicitation Status
http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=900274
ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.