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NEW YORK - Standard & Poors said Thursday Fulton Financial Corp. will replace Valassis Communications Inc. in the S&P MidCap 400 at the close of trading Monday.
As of Thursday's close, Valassis had a market capitalization of approximately $90 million, which ranked it 400th in the index, S&P said.
Fulton Financial had been announced as the replacement for networking equipment maker Foundry Networks Inc. on the same index. Foundry is being acquired by Brocade Communications Systems Inc., though the deal is still pending. S&P said it would name a new replacement for Foundry later.
Fulton, which offers retail and commercial banking products and services, will be added to the S&P MidCap 400 GiCS, or Global Industry Classification Stndard, Regional Banks Sub-Industry index.
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