NEW YORK - (Business Wire) Fitch Ratings will host a teleconference today, November 19 at 11 a.m. ET, to discuss U.S. Bank's exposure to commercial real estate (CRE) losses and what effect this could have on bank credit profiles. This call coincides with a special report on this topic following a comprehensive review by Fitch of its rated financial institutions' potential exposure to CRE loan losses. In August 2009, Fitch initiated an expanded review of CRE exposures for banking and thrift institutions in Fitch's ratings portfolio, beginning with a survey aimed at obtaining detailed data on the CRE portfolios of companies rated by Fitch. The information gained from the CRE survey provides a framework for Fitch to examine specific areas of concern across the banking industry, conduct more uniform stress tests, and assess if rating actions are needed to reflect what will likely be continued deterioration in asset quality. The teleconference will provide additional details regarding Fitch's survey methodology, approach to stress tests related to CRE exposure and potential for rating actions as a result of CRE losses.
Leading the call will be Christopher Wolfe, Managing Director, Financial Institutions and Head of Fitch's North American Bank team and James Moss and Thomas Abruzzo, Co-Heads of Fitch's Financial Institutions Group. There will be a Q&A session following the opening remarks.
Call Information:
-- Dial-in (Americas): +1-877-233-9813
-- Dial-in (EMEA): +1-706-679-8437
-- Conference ID: #42789112
-- Call Leader: Brian Bertsch
A replay of the teleconference will be available on the afternoon of November 19 and accessible for two weeks. To access the replay, dial +1-800-642-1687 or +1-706-645-9291 and provide the conference ID #42789112.
The full report 'U.S. Banks: Updated Review of CRE Exposures' is available on the Fitch Ratings' web site 'www.fitchratings.com.'
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: HTTP://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
Brian Bertsch, +1-212-908-0549 (Media Relations)
brian.bertsch@fitchratings.com
