KBRA Releases Surveillance Report for Western Alliance Bancorporation

28 Dec 2023   |   New York


On April 28, 2023, KBRA downgraded the senior unsecured debt rating to BBB+ from A-, the subordinated debt rating to BBB from BBB+, the preferred stock rating to BBB- from BBB, and affirmed the short-term debt rating of K2 for Western Alliance Bancorporation (NYSE: WAL) ("the company"). KBRA also downgraded the ratings for WAL's subsidiary, Western Alliance Bank ("WAB" or "the bank"), including the deposit and senior unsecured debt ratings to A- from A, the subordinated debt rating to BBB+ from A-, and the short-term deposit and debt ratings to K2 from K1. Furthermore, KBRA downgraded the Issuer rating for the bank's wholly-owned and strategically important subsidiary, AmeriHome Mortgage Company, LLC ("AmeriHome"), to A- from A, as the mortgage company's rating is linked to WAB's senior rating. The Outlook for all long-term ratings is Stable.

To access rating and relevant documents, click here.

Click here to view the report.

About KBRA

KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.

Doc ID: 1002936

805 Third Avenue
29th Floor
New York, NY 10022
+1 (212) 702-0707
Contact Us

© 2010-2024 Kroll Bond Rating Agency, LLC. All Rights Reserved. Kroll Bond Rating Agency, LLC is not affiliated with Kroll Inc., Kroll Associates Inc., KrollOnTrack Inc., or their affiliated businesses.