Moody's downgrades MUFG Americas

Moody's Investors Service said it downgraded the long-term ratings and assessments of MUFG Americas Holdings Corp. and its bank subsidiary, MUFG Union Bank, NA.

Moody’s downgraded MUAH's senior unsecured debt rating to A3 from A2. For MUFG Union Bank, the agency lowered the senior unsecured debt to A3 from A2.

“The ratings downgrade was the result of the company's weaker earnings profile relative to rated U.S. bank peers, which has become more challenging to address with the weakened economic environment brought on by the coronavirus,” said Rita Sahu, a Moody’s vice president and senior credit officer, in a press release.

The outlook is stable.

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