...Ratings Affirmed: Fitch Ratings affirmed the long-term issuer default rating (IDR) of MUFG Americas Holdings Corporation (MUAH) and its bank subsidiary at `A' on Oct. 7, 2014. Strong Capital Levels: Capital remains the primary ratings strength for the institution. MUAH's TCE ratio remains the highest amongst the large regional peer group. The tangible common equity (TCE) ratio for the company improved to 10.8%, up from 9.1% the prior year. Fitch expects MUAH to retain elevated capital levels relative to peers. Solid Asset Quality Through the Cycle: MUAH's nonperforming assets and net chargeoffs remain low. The company maintained relatively strong asset quality metrics through the great recession. In particular, MUAH's residential portfolio significantly outperformed the sector due to maintenance of pragmatic underwriting standards such as FICO scores over 720 and loan to values below 80%. Weak Earnings: Fitch expects MUAH's earnings profile to remain a rating weakness for the company. Both...
