Fitch Ratings Affirms UCBH Holdings; Rating Outlook Stable.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has affirmed the 'BBB' long-term Issuer Default Ratings (IDRs) for UCBH Holdings, Inc. (UCBH) and its banking subsidiary, United Commercial Bank. Fitch also affirmed UCBH's short-term rating at 'F3', one notch below that of the bank subsidiary, reflecting Fitch's view that the company would benefit from a more robust parent liquidity management framework. The Rating Outlook is Stable. A complete list of ratings for UCBH and its subsidiaries is provided below. Ratings reflect UCBH's solid earnings, excellent asset quality, and successful execution of its ethnic-Chinese strategy. After a lull in acquisitions, UCBH purchased two banks during 2005 and successfully entered the Boston and Seattle markets. UCBH has a growing presence in the Greater China region, which has supported the growth of the company's trade finance business. Going forward, Fitch will monitor capital levels, particularly given the increased pace of acquisition activity. Further, Fitch would view greater revenue diversification favorably fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. . Fitch has affirmed the following ratings with a Stable Outlook: UCBH Holdings, Inc. --Long term Issuer Default Rating (IDR IDR In currencies, this is the abbreviation for the Indonesian Rupiah. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) 'BBB'; --Short-term issuer 'F3'; --Individual 'B/C'; --Support '5'. United Commercial Bank --Long-term Issuer Default Rating (IDR) 'BBB'; --Long-term deposits 'BBB+'; --Short-term issuer 'F2'; --Short-deposits 'F2'; --Individual 'B/C'; --Support '5'. UCBH Capital Trust I-V I-V Current/Voltage --Trust preferred 'BBB-'. UCBH Holdings Statutory Trust I-II --Trust preferred 'BBB-'. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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