Fitch puts MUFG on watch

Fitch Ratings said it placed the long- and short-term issuer default ratings and viability ratings of MUFG Union Bank, NA on positive watch following the announced sale of the company to U.S. Bancorp.

The agency placed the issuer default ratings of MUFG Americas Holdings Corp. on negative watch.

Fitch placed the issuer default ratings of MUFG Securities Americas Inc. on negative watch as well.

“The rating watch positive on MUB's ratings reflects Fitch's view that the purchase by USB will likely result in a stronger company than MUB on a standalone basis,” the agency said in a news release.

Fitch said MUFG Americas Holdings and MUFG Securities Americas’ ratings will be driven by institutional support and will be rated at or below MUFG's rating, which is the driver of the negative watch.

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