(Bloomberg) -- Some US regional lenders could see their asset quality and performance hurt by the stresses in commercial real-estate markets, said S&P Global Ratings on Tuesday as it lowered its outlook on five lenders to negative from stable. 

Increases in modified loans and loan maturities “may foreshadow a decline in asset quality and performance,” the ratings provider said in a statement.

S&P said it lowered its outlook on First Commonwealth Financial Corp., M&T Bank Corp., Synovus Financial Corp., Trustmark Corp. and Valley National Bancorp as the five lenders have “some of the highest exposures” to commercial real estate loans among the banks it rates.

Banks that have set aside larger provisions for losses tied to property loans in recent weeks include New York Community Bancorp. and Deutsche Pfandbriefbank AG. 

Should the Federal Reserve start cutting interest rates, that could “alleviate some of the cumulative stress in the commercial real estate sector,” S&P said, adding that its outlook revisions on the banks address the potential risk that “could emerge if interest rates were to stay higher for longer.”

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