Fitch: UCBH view negative

Fitch Ratings said it revised the outlook for UCBH Holdings, Inc.'s and its subsidiary United Commercial Bank to negative from stable, and affirmed the long-term issuer default rating at BBB and short-term at F2.

The outlook revision reflects the companies' asset quality challenges and the resulting impact on profitability, according to Fitch.

The affirmation reflects a solid franchise, maturing presence in the greater China region and improved liquidity, the agency said.

Fitch assigned a BBB- to the company's $135 million of perpetual preferred convertibles.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.