...Ratings Affirmed, Outlook Negative: In affirming BOK Financial Corporation's (BOKF, or the bank) ratings in May 2020, Fitch Ratings signaled that the bank entered the coronavirus pandemic and ensuing financial downturn in a position of relative strength, underpinned by a solid franchise and diverse business mix. However, the Rating Outlook revision to Negative from Stable reflects Fitch's view of a moderate risk that BOKF will not return to the benchmark financial performance implied by its current 'A' Long-Term Issuer Default Rating (IDR) by YE21. Business Model Differentiates from Peers: Fitch views BOKF's business model and franchise as ratings strengths, supporting a rating above those of its peers. In addition to the bank's strong core banking franchise, the company offers trust, insurance, brokerage and investment banking services, which contribute to solid fee income. Volatility-driven brokerage income and mortgage origination volumes in 1H20 helped to offset the negative impact...
