The Real Deal Miami

BankUnited gets rating cut

September 29, 2008 03:15PM

Coral Gables-based BankUnited Financial Corp. and its subsidiaries saw their long-term credit rating cut from D to E by Fitch Ratings, which also cut its long-term issuer rating to CCC, meaning it is currently vulnerable. On September 19, the bank accepted a finding by the Office of Thrift Supervision that said current conditions significantly weaken the liquidity profile of the bank holding company. The agency said BankUnited, the largest Florida-chartered bank, must bolster its capital ratios by December 31.