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Moody’s views Western Alliance negatively
Moody’s Investors Service said it changed its outlook for Western Alliance Bancorp. and its subsidiary Western Alliance Bank to negative from stable.
“The negative outlook reflects Moody's view that Western Alliance's reduced capitalization weakens the bank's ability to absorb unexpected losses and, if sustained, would drive further negative rating pressure. Its capitalization declined following its all-cash purchase of Aris Mortgage Holding Co., LLC, the parent company of AmeriHome Mortgage Co., LLC (AmeriHome), a large US residential mortgage company, for $1.2 billion in April 2021,” the agency said in a press release.
Concurrently, Moody’s affirmed all its ratings for Western Alliance, including its Baa2 ratings.
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