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On July 1, 2010, S&P raised its rating outlook to positive from negative for both Huntington Bancshares and The Huntington National Bank and reaffirmed its existing credit ratings for both. On March 15, 2010, Huntington requested the short-term S&P ratings for Huntington Bancshares and The Huntington National Bank be withdrawn as these facilities are no longer being used. On November 20, 2009, Huntington requested the short-term Moody’s rating for Huntington Bancshares be withdrawn as this facility is no longer being used. On September 14, 2009, Fitch reaffirmed its credit ratings on Huntington Bancshares Incorporated and Huntington National Bank. On June 17, 2009, S&P lowered its credit ratings on Huntington Bancshares Incorporated senior unsecured notes to BB+ and subordinated notes to BB, and lowered its credit ratings on Huntington National Bank senior unsecured notes to BBB-, subordinated notes to BB+ and commercial paper / short-term rating to A-3. On May 4, 2009, Standard & Poor's Ratings Services placed all ratings of Huntington Bancshares and The Huntington National Bank, along with those of 22 other banks/thrifts, on CreditWatch with negative implications. The CreditWatch placement is part of an ongoing industry review and follows their recently published criteria on stress testing and U.S. banks. These reviews are targeted to be complete by May 30, 2009. At the conclusion of the review, they have noted that they might downgrade ratings for banks under review by one notch or more, or affirm with a negative outlook. On April 23, 2009, Fitch lowered its credit ratings on Huntington Bancshares Incorporated senior unsecured notes to BBB and subordinated notes to BBB-, and lowered its credit ratings on The Huntington National Bank senior unsecured notes to BBB+ and subordinated notes to BBB, and lowered the commercial paper / short-term rating to F2. Further, they lowered their individual rating for both Huntington Bancshares and The Huntington National Bank to C. They also changed their outlook to negative. On April 7, 2009, Moody's lowered its credit ratings on Huntington Bancshares Incorporated senior unsecured notes to Baa2 and subordinated notes to Baa3, and lowered its credit ratings on The Huntington National Bank senior unsecured notes to Baa1 and subordinated notes to Baa3, and lowered the commercial paper / short-term rating to P-2. On January 26, 2009, S&P lowered its credit ratings on Huntington Bancshares Incorporated senior unsecured notes to BBB and subordinated notes to BBB-, and lowered its credit ratings on Huntington National Bank senior unsecured notes to BBB+ and subordinated notes to BBB. On January 22, 2009, Moody’s placed all ratings on negative outlook and review for downgrade on Huntington Bancshares Incorporated and Huntington National Bank. These developments are reflected in the following table:
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