NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has assigned a senior unsecured debt rating of BBB+, subordinated debt rating of BBB and short-term rating of K2 to Western Alliance Bancorporation (NYSE: WAL, “Western Alliance”), a bank holding company headquartered in Phoenix, Arizona. In addition, KBRA has assigned a long-term deposit rating of A-, senior unsecured debt rating of A-, subordinated debt rating of BBB+, and a short-term rating of K2 to its subsidiary, Western Alliance Bank (“the Bank”). The outlook on all ratings is stable.
The ratings are supported by WAL’s financial fundamentals as indicated by improving credit quality metrics, consistent earnings in recent years, and a strong efficiency ratio. These strengths are balanced by concerns surrounding WAL’s geographic dispersion, earnings and asset quality deterioration during the crisis, relatively low risk weighted capital ratios, and dependence on net interest revenue.
The ratings are based on KBRA’s Global Bank and Bank Holding Company Rating Methodology published on January 28, 2015.
Please use the following link to view the report:
|Follow us on Twitter!|
About Kroll Bond Rating Agency
KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).