KeyCorp (KEY -0.6%) is exchanging $1.3B in preferred shares for cash and common stock. The move...

|About: KeyCorp (KEY)|By:, SA News Editor

KeyCorp (KEY -0.6%) is exchanging $1.3B in preferred shares for cash and common stock. The move will raise its common-equity by $1.8B, the amount required the government's recent stress tests.