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S&P Global Ratings cut its credit ratings on five U.S. banks and lowered the outlook on a couple of others amid ongoing funding and earnings pressures in the sector.

S&P downgraded Associated Banc Corp., Comerica Inc., KeyCorp, UMB Financial Corp., and Valley National Bancorp each by one notch. The rating agency cited tougher conditions for the industry, among other factors, in its decisions.

For example, in its rating action on Comerica, S&P noted the bank has experienced “large deposit outflows and significant margin declines in recent quarters,” and said that industry pressures and interest rate expectations “have reduced the predictability and business stability” of its business model.

The rating outlooks for all five of the downgraded banks is stable, reflecting that they are expected to weather the tougher operating conditions, S&P noted.

S&P also revised the rating outlooks on S&T Bank and River City Bank to negative from stable, and affirmed its rating and negative outlook on Zions Bancorp based on the same concerns about deposit, funding and earnings pressures in the U.S industry.