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S&P ups, withdraws Bank of the West
S&P said it raised its long-term issuer credit rating on Bank of the West to A+ from A, and removed the ratings from CreditWatch, where they were placed with positive implications on Dec. 22, 2021.
“We then withdrew the long- and short-term issuer credit ratings on Bank of the West. The outlook on the long-term rating was stable at the time of the withdrawal,” S&P said in a press release.
The rating actions follow the closing of Bank of the West's acquisition by Bank of Montreal on Feb. 1, which received regulatory approval on Jan. 17, and the merger of Bank of the West into its U.S. bank subsidiary BMO Harris Bank NA, the agency said.
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