S&P lifts Bank of New York Mellon rating to 'AA-'

By Associated Press
June 27, 2008 | Comments (0)

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Standard & Poor's Ratings Services on Friday raised its ratings on Bank of New York Mellon Corp. one notch to "AA-" from "A+," citing the company's "relatively stable core earnings despite market turmoil."

S&P also applauded Bank of New York Mellon Corp.'s improving operating position since its predecessor company, Bank of New York Co., bought Mellon Financial Corp. in July.

The outlook is stable.

Shares slipped 55 cents to $38.79.

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