Moody's rates Western Alliance Bank Baa2

Moody's Investors Service said it assigned an issuer rating of Baa2 and long- and short-term deposit ratings of A2/prime-1 to Western Alliance Bank.

The agency also assigned a stand-alone baseline credit assessment of Baa1, along with long- and short-term counterparty risk assessments of A3(cr) and prime-2(cr) and long- and short-term counterparty risk ratings of Baa1 and prime-2.

The outlook is stable.

The ratings reflect the bank's strong balance sheet, good core deposit funding and high earnings power, Moody's said.

The ratings also consider the bank's adequate asset risk management will support asset quality performance in future economic downturns, the agency said.

Furthermore, the bank's asset risk is mitigated by its adequate capitalization, which has improved in recent years, Moody's added.

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