March 14 - Standard & Poor's Ratings Services today said that its ratings on SunTrust Banks Inc. (BBB/Stable/A-2) are not affected by the Federal Reserve's objection to portions of the bank's 2012 capital plan. On March 13, 2012, the Federal Reserve released the results of its 2012 comprehensive capital analysis and review (CCAR). Under its hypothetical stressed scenario, the Fed projected that SunTrust's Tier 1 common capital ratio would fall below the 5% minimum threshold if SunTrust adopted its proposed capital plans. The company has not disclosed what those capital plans were. However, the result assuming no capital actions indicates that SunTrust planned to return to shareholders capital equaling roughly 0.7% of risk-weighed assets, which was less than most of its regional banking peers. Following the results, the bank announced that it expects to maintain its dividend at $0.05 per share and that it will continue to redeem trust preferred securities. We view SunTrust's risk position as "moderate," reflecting the bank's exposure to the troubled southeast housing markets and its relatively high nonperforming loan ratio. Our assessment of capital, which remains "adequate," incorporates the bank's modest profitability and continued redemption of trust preferred securities. Bank holding companies are required to revise and resubmit their capital plans within 30 days if the Federal Reserve objects to the plan. Therefore, we will reassess our view of SunTrust's capital position once the results and details of its resubmission become clear.