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Fitch affirms Westamerica
Fitch Ratings said it affirmed the long and short-term issuer default ratings of Westamerica Bancorporation and its banking subsidiary Westamerica Bank.
In addition, Fitch said it has downgraded the individual rating to B from A/B.
The outlook remains stable.
The agency noted that the affirmation reflects the company's continued strong earnings performance, risk adverse credit culture and adequate capital levels.
Affirmed ratings include Westamerica's long-term issuer default rating affirmed at A, short-term issuer default rating affirmed at F1, individual downgraded to B from A/B, support affirmed at 5 and support Floor affirmed at NF.
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