Fitch shifts BankUnited to stable

Fitch Ratings has affirmed BankUnited's long- and short-term issuer default ratings at BBB and F2, respectively.

The rating outlook was revised to stable from negative.

The rating outlook revision reflects Fitch's view that BankUnited’s performance through the course of 2020 and its expected performance going forward are in line with the firm's rating. BKU's ratings also reflect its execution on efficiency improvements and improvements in its deposit mix and cost of deposits.

While asset quality could come under further pressure in 2021 and into 2022, Fitch does not expect credit deterioration to meaningfully impact earnings in the context of the bank's bbb viability rating.

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