Fitch Rates First Horizon National Corp.'s $100MM Series A Non-Cumulative Perpetual Prfd Stock 'B'

-01 February 2013: Fitch Ratings has assigned a 'B' rating to the $100 million Series A non-cumulative perpetual preferred stock issuance by First Horizon National Corp (FHN).

The offering is priced at 6.20% with the proceeds being used for general corporate purposes.

SENSITIVITY/RATING DRIVERS

In accordance with Fitch's rating criteria, the offering's rating is notched five down from FHN's viability rating of 'bbb-'.

Additional information is available at 'www.fitchratings.com.' The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

--'Global Financial Institutions Rating Criteria' (Aug. 15, 2012);

--'Rating FI Subsidiaries and Holding Companies' (Aug. 10, 2012);

--'Assessing and Rating Bank Subordinated and Hybrid Securities' (Dec. 5, 2012);

--'Fitch Downgrades First Horizon National Corp's L-T IDR to 'BBB-'; Outlook Stable' (Dec. 13, 2012).

Applicable Criteria and Related Research:

Global Financial Institutions Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=686181

Rating FI Subsidiaries and Holding Companies

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679209

Assessing and Rating Bank Subordinated and Hybrid Securities

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=695542

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