Premarket Alert: Synovus Financial (NYSE: SNV

Posted in General 
June 25th, 2009

Synovus Financial (NYSE: SNV) shares are down about 3% in premarket trading on active early volume after Fitch Ratings downgraded the bank’s long and short-term issuer default ratings with a negative outlook.

The ratings agency cited significant exposure to troubled regions of the Southeast, and credit concerns stemming from residential construction, development, and land loan portfolios. — Mike Tarsala.

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