Fitch revises Western Alliance Bancorp view to positive

Fitch Ratings said it affirmed the long-term issuer default ratings of Western Alliance Bancorporation (WAL) and Western Alliance Bank (WAB) at BBB-.

The outlook was revised to positive.

Fitch said it also affirmed both companies' short-term IDRs at F3.

“The outlook revision to positive reflects Fitch's view of the entities' improved funding and liquidity profile as well as our assessment of the business profile in light of management's strategic changes after deposit stress in March 2023,” Fitch said in a news release.

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