Moody's rates Western Alliance notes Ba3

Moody's Investors Service said it assigned a Ba3 senior unsecured note rating to Western Alliance Bancorp., which has a Ba3 issuer rating and is the holding company of Bank of Nevada.

The outlook is stable.

The agency said the ratings reflect Bank of Nevada's healthy capital metrics and good base of core deposits as well as its significant concentration in commercial real estate, which amounts to approximately 2.9 times tangible common equity.

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