Fitch might cut MUFG Americas

Fitch Ratings said it placed MUFG Americas Holdings Corp.' long-term issuer default rating on rating watch negative.

Concurrently, Fitch also placed the company’s U.S. bank subsidiary, MUFG Union Bank, NA, as well as its broker-dealer, MUFG Securities Americas Inc., on rating watch negative.

Fitch also affirmed these respective entities' short-term issuer default ratings at F1.

“These actions are driven by the recent rating action taken on MUAH's ultimate parent, Mitsubishi UFJ Financial Group (MUFG),” the agency said in a news release.

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