2010-01-15 22:44:50 -
Fitch Ratings has downgraded the long-term Issuer Default Rating (IDR) to 'D' from 'C' and the Individual rating to 'F' from 'E' of UCBH Holdings, Inc. (UCBH), as the company is in bankruptcy. Fitch also has withdrawn all outstanding ratings of UCBH Holdings, Inc. (UCBH) and its subsidiaries. A complete list of ratings affected by this action is listed below.
Fitch has taken the following rating actions.
UCBH Holdings, Inc.
--Long-term IDR downgraded to 'D' from 'C', withdrawn;
--Short-term IDR downgraded to 'D' from 'C'; withdrawn;
--Preferred Stock 'C/RR6'; withdrawn;
--Individual downgraded to 'F' from 'E'; withdrawn;
--Support '5'; withdrawn;
--Support Floor 'NF'; withdrawn.
United Commercial Bank
--Individual
'F'; withdrawn.
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--Trust Preferred Securities 'C/RR6'; withdrawn.
The rating action reflects the application of Fitch's current criteria which is available on Fitch's web site at ' www.fitchratings.com :
' and specifically includes.
--Master Global Financial Institutions Criteria (Dec. 29, 2009).
--Rating Hybrid Securities (Dec. 29, 2009).
--Bank Holding Companies Criteria (Dec. 30, 2009).
--Recovery Ratings for Financial Institutions (Dec. 30, 2009).
Additional information is available at ' www.fitchratings.com :
'.
ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK:
FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS :
.
IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE ' WWW.FITCHRATINGS.COM :
'.
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, +1-212-908-0368John
Mackerey, +1-212-908-0366Media Relations:Brian Bertsch,
+1-212-908-0549
brian.bertsch@fitchratings.com : mailto:brian.bertsch@fitchratings.com
