...Recent Downgrade: Fitch Ratings recently downgraded UMB Financial's (UMBF) long-term issuer default rating to `A' from `A+'. The downgrade reflects Fitch's view that UMBF's continued asset management outflows have challenged its company profile, despite remaining relatively strong compared to peers. The downgrade also reflects what Fitch considers to be a modestly higher risk appetite than in the past. Ratings Still Relatively High: UMBF remains one of the highest rated banks globally. The company's strong rating reflects its steady operating performance, revenue diversity, robust liquidity and solid credit quality over multiple business cycles. Negative Asset Management Trends: Fitch previously communicated that sustained outflows within Scout Fund's international equity-focused fund as a rating sensitivity, contributing to the recent downgrade. While Scout's fixed income-focused funds have seen net inflows over a similar time frame, margins generated by these types of funds are typically...
