Fitch Downgrades UCBH Holdings' IDR to 'C'

2009-11-09 18:34:04 -

Fitch Ratings has downgraded the long-term Issuer Default Rating (IDR) of UCBH Holdings, Inc. (UCBH) to 'C' from 'CC', indicating that default is imminent or inevitable. Additionally, Fitch has withdrawn the ratings of UCBH's bank subsidiary, United Commercial Bank (UCB).

Both actions follow the FDIC assisted acquisition of UCBH's primary subsidiary UCB by Pasadena, California-based East West Bank (EWB), a subsidiary

of East West Bancorp (unrated by Fitch). EWB acquired all the deposits and branches of UCB, including the Hong Kong branch as well as UCB's Shanghai, China-based subsidiary. All qualified financial contracts were also transferred to EWB. A full list of ratings appears at the end of this release.

Fitch has taken the following actions on UCBH and its subsidiary.

UCBH Holdings, Inc.

--Long-term IDR downgraded to 'C' from 'CC'.

United Commercial Bank

--Long-term IDR 'CC' withdrawn ;

--Long-term deposits 'CCC/RR3' withdrawn;

--Short-term deposits 'C' withdrawn;

--Short-term IDR 'C' withdrawn;

--Individual downgraded to 'F' from 'E';

--Support '5' withdrawn;

--Support Floor 'NF' withdrawn.

The following ratings are unaffected.

UCBH Holdings, Inc.

--Short-term IDR'C';

--Preferred Stock 'C/RR6';

--Individual 'E';

--Support'5';

--Support Floor 'NF'.

UCBH Trust Co.

UCBH Capital Trust I

UCBH Capital Trust II

UCBH Capital Trust III

UCBH Capital Trust IV

UCBH Capital Trust V

UCBH Holdings Statutory Trust I

UCBH Holdings Statutory Trust II

--Trust Preferred Securities 'C/RR6'.

Additional information is available at ' www.fitchratings.com :

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IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE ' WWW.FITCHRATINGS.COM :

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PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

Fitch Ratings, New YorkKen Ritz, 212-908-0368John Mackerey,
212-908-0366orMedia Relations:Brian Bertsch,
212-908-0549Email: brian.bertsch@fitchratings.com : mailto:brian.bertsch@fitchratings.com