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.