NEW YORK - Fitch Investors Service Inc. said it affirmed the A senior debt ratings of Home Savings of America, Great Western Financial Corp., and Great Western Bank, but revised the California companies' trends downward.
Home Savings' credit trend was lowered to declining from stable, while Great Western Financial and its subsidiary became uncertain rather than stable. Fitch said Home and Great Western are suffering from deteriorating asset quality amid California's depressed economy.
Also affirmed were Great Western Bank's A-minus subordinated debt and F-1 commercial paper, Great Wester Financial's BBB preferred stock, and Home's A-minus subordinated debt and F-1 commercial paper.
