Amendment: Fitch Affirms PNC's IDR at 'A' Following Acquisition of Mercantile; Outlook Stable.

CHICAGO -- (This is an amended version of a press release issued Monday, March 5, 2007, which includes the rating of Mercantile Bankshares Corporation's subordinated debt.)

Fitch has affirmed all ratings of PNC Financial Services Group Inc. (NYSE: PNC) and its affiliates. At the same time Fitch has assigned issuer and debt ratings related to the acquisition of Mercantile Bankshares Corporation (Mercantile), which closed today. The Rating Outlook on all entities is Stable. A complete list of ratings follows at the end of this release.

Today's rating action aligns the issuer, deposit and debt ratings of the former Mercantile bank subsidiaries with those of PNC's existing bank affiliates. Fitch has also assigned a rating to subordinated debt issued by Mercantile.

PNC's acquisition of the $17.7 billion asset Mercantile strengthens the company's franchise in the mid-Atlantic area, making it the second largest banking company by deposit market share in Maryland and sixth largest in Virginia. Fitch believes that Mercantile's core franchises of commercial banking, retail banking and wealth management fit well with PNC's existing businesses. Although there is some level of integration risk related to the merger, Fitch notes that PNC is an experienced acquirer and expects it to execute the transaction without significant problems.

Ratings Affirmed, Rating Outlook Stable:

PNC Financial Services Group

--Long-term Issuer Default Rating 'A';

--Long-term Subordinated 'A-';

--Preferred Stock 'A-'

--Short-term Issuer 'F1';

--Individual 'B';

--Support '5'.

PNC Bank N.A.

--Long-term deposits 'A+';

--Long-term Issuer Default Rating 'A';

--Long-term Senior Unsecured 'A';

--Long-term Subordinated 'A-';

--Short-term Issuer 'F1';

--Short-term Deposits 'F1';

--Individual 'B';

--Support '4'.

PNC Bank Delaware

--Long-term deposits 'A+';

--Long-term Issuer Default Rating 'A';

--Short-term Issuer 'F1';

--Short-term Deposits 'F1';

--Individual 'B';

--Support '4'.

PNC Funding Corp

--Long-term Issuer Default Rating 'A';

--Long-term Senior Unsecured 'A';

--Long-term Subordinated 'A-';

--Short-term Issuer 'F1';

--Individual 'B';

--Support '5'.

PNC Financial Corp.

--Long-term Subordinated 'A-'.

Riggs National Corporation

--Long-term Subordinated 'A-'.

PNC Capital Trust C, D

PNC Institutional Capital Trust B

Riggs Capital II

UNB Capital Trust I

--Trust Preferred 'A-'.

PNC Preferred Funding Trust I

--Hybrid Capital Securities 'A-'.

Ratings Assigned, Rating Outlook Stable:

Mercantile Bankshares Corporation

--Long-term Subordinated 'A-'.

Mercantile-Safe Deposit & Trust Company

--Long-term deposits 'A+';

--Long-term Issuer Default Rating 'A';

--Long-term senior debt 'A';

--Short-term Issuer 'F1';

--Short-term Deposits 'F1';

--Individual 'B';

--Support '4'.

Annapolis Banking & Trust Company

Citizens National Bank

Farmers & Mechanics Bank 

Marshall National Bank & Trust

Mercantile County Bank

Mercantile Eastern Shore Bank

Mercantile Peninsula Bank

Mercantile Southern Maryland Bank

The National Bank of Fredericksburg

Westminster Union Bank

--Long-term deposits 'A+';

--Long-term Issuer Default Rating 'A';

--Short-term Issuer 'F1';

--Short-term Deposits 'F1';

--Individual `B';

--Support '4'.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.