New York, July 24, 2013 -- Moody's Investors Service assigned a Caa1 (hyb) rating to Synovus Financial Corporation's planned issuance of $130 million of non-cumulative perpetual preferred stock. The rating outlook is positive. At the same time, Moody's also assigned the following shelf ratings to Synovus' recently filed shelf registration: senior unsecured of (P)B1, subordinate of (P)B2, cumulative preferred stock of (P)B3, and non-cumulative preferred stock of (P)Caa1.
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