Fitch Ratings has downgraded the short-term Issuer Default Rating of Regions Bank from F1-plus to F1, citing "increased concerns" about the bank's residential homebuilder portfolio. Fitch also downgraded the Individual ratings of Regions Bank and its holding company, Regions Financial Corp., from A/B to B, but affirmed the holding company's long-term IDR at A-plus. The rating outlook was revised from stable to negative. The rating agency said Regional Financial has reported deterioration in its residential homebuilder loan portfolio, which represents approximately 8% of its total loans, and is projecting further deterioration.
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