Printer Friendly

Fitch Ratings affirms IDRs at 'BBB'.

New York: Fitch Ratings, a nationally recognized statistical rating organization (NRSRO) designated by the U.S. Securities and Exchange Commission, affirmed the Long-Term Issuer Default Rating (IDRs) at 'BBB' and Short-Term IDRs at 'F2' for BankUnited, Inc. (BKU) and BankUnited, N.A.

The Rating Outlook is revised to Negative from Stable. The rating action follows a periodic review of the midtier regional banking group, which includes BankUnited, Inc. (BKU), BOK Financial Corp. (BOKF), Cathay General Bancorp (CATY), East West Bancorp, Inc. (EWBC), First Horizon National Corporation (FHN), First National of Nebraska, Inc. (FNNI), Fulton Financial Corporation (FULT), Hilltop Holdings Inc. (HTH), Synovus Financial Corp. (SNV), Trustmark Corporation (TMRK), UMB Financial Corp. (UMBF), Umpqua Holdings Corporation (UMPQ) and Wintrust Financial Corporation (WTFC).

BKU's ratings are supported by the company's seasoned management team, decent capital levels and stable core asset quality. Offsetting these strengths are what Fitch considers to be a relatively narrow business model concentrated in spread income and reliant on continued strong loan growth to offset the negative earnings impacts of a shrinking covered loan portfolio. Company-specific rating rationales for the other banks are published separately, and for further discussion of the large regional bank sector in general, refer to the special report titled 'Midtier Regional Bank Periodic Review,' to be published shortly.

COPYRIGHT 2018 Plus Media Solutions
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2018 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Daily the Pak Banker (Lahore, Pakistan)
Date:Mar 9, 2018
Words:213
Previous Article:Fitch Ratings upgrades Cathay Bank's IDR to 'BBB-'.
Next Article:Fitch Ratings affirms Italian Region of Calabria's IDRs at 'BBB'.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters