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Fitch Downgrades PacWest, Citing ‘Deterioration’ of Capital Ratio
National Mortgage News, Aug. 11, 2022–Alissa Kline (subscription)
The rating agency has revised the long-term issuer default rating for PacWest Bancorp and its banking subsidiary, Pacific Western Bank, from “BBB” to “BBB-” and says it doesn’t expect the bank’s common equity Tier 1 ratio to bounce back anytime soon.
https://www.nationalmortgagenews.com/news/fitch-downgrades-pacwest-citing-deterioration-of-key-capital-ratio?position=editorial_1&campaignname=V2_NMN_Daily_2021-08122022&utm_source=newsletter&utm_medium=email&utm_campaign=V2_NMN_Daily_2021%2B%27-%27%2B08122022&bt_ee=BMziOFvSIAqfB5mOHt5%2BYF00u6r5J%2BEKIiLuouToXP51ycgAEzjMT5ySo0K3URMJ&bt_ts=1660298495982