BB&T 2010 Annual Report Download - page 82

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BB&T’s and Branch Bank’s ability to raise funding at competitive prices is affected by the rating agencies’
views of BB&T’s and Branch Bank’s credit quality, liquidity, capital and earnings. Management meets with the
rating agencies on a routine basis to discuss the current outlook for BB&T and Branch Bank. The ratings for
BB&T and Branch Bank by the four major rating agencies are detailed in the table below.
Table 25
Credit Ratings of BB&T Corporation and Branch Bank
December 31, 2010
S&P Moody’s Fitch DBRS
BB&T Corp.
Commercial Paper A-1 P-1 F1 R-1(low)
Issuer A A2 A+ A(high)
LT/Senior debt A A2 A+ A(high)
Subordinated debt A- A3 A A
Trust Preferred Securities BBB Baa1 A- A
Branch Bank
Bank financial strength A+/A-1 B- B NA
Long term deposits A+ A1 AA- AA(low)
LT/Senior unsecured bank notes A+ A1 A+ AA(low)
Other long term senior obligations A+ A1 A+ AA(low)
Other short term senior obligations A-1 P-1 F1 R-1(middle)
Short term bank notes A-1 P-1 F1 R-1(middle)
Short term deposits A-1 P-1 F1+ R-1(middle)
Subordinated bank notes A A2 A A(high)
Ratings Outlook:
Credit Trend Stable Stable Stable Stable
BB&T, Branch Bank and BB&T FSB have Contingency Funding Plans (“CFPs”) designed to ensure that
liquidity sources are sufficient to meet their ongoing obligations and commitments, particularly in the event of a
liquidity contraction. The CFPs are designed to examine and quantify the organization’s liquidity under various
“stress” scenarios. Additionally, the CFPs provide a framework for management and other critical personnel to
follow in the event of a liquidity contraction or in anticipation of such an event. The CFPs address authority for
activation and decision making, liquidity options and the responsibilities of key departments in the event of a
liquidity contraction.
Management believes current sources of liquidity are adequate to meet BB&T’s current requirements and
plans for continued growth. See Note 6 “Premises and Equipment,” Note 11 “Long-Term Debt” and Note 16
“Commitments and Contingencies” in the “Notes to Consolidated Financial Statements” for additional
information regarding outstanding balances of sources of liquidity and contractual commitments and obligations.
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