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Article: Fitch Assigns 'F1+' S-T IDR to UBS Bank USA.
- Article from:
- Investment Weekly News
- Article date:
- November 7, 2009
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Fitch Ratings has assigned an 'F1+' short-term Issuer Default Rating (IDR) and a '1' Support Rating to UBS Bank USA (UBSB).
UBSB is a direct subsidiary of UBS Americas Inc., which in turn, is a wholly-owned subsidiary of UBS AG (rated 'A+/F1+' with a Stable Outlook by Fitch). Fitch's ratings of UBSB primarily reflect its ownership by UBS AG and are augmented by its sound track record, significant levels of liquidity, and solid asset quality. Since UBSB's ratings are both driven by and linked to those of its parent company, any changes in UBS AG's ratings would directly impact the ratings of UBSB.
UBSB's operations are closely allied to those of UBS's ...