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Fitch affirms East West Bancorp's short-term issuer default rating

Fitch Ratings on July 31 affirmed the F2 short-term issuer default ratings of Pasadena, Calif.-based East West Bancorp Inc. and East West Bank and removed the ratings from under criteria observation.

Fitch also affirmed the bank's short-term deposits at F2.

The rating agency raised East West Bank's funding and liquidity score to 'bbb+' from 'bbb,' citing the bank's liquidity profile and liquidity risk management. Fitch also noted that East West Bank's loan-to-deposit ratio and on-balance sheet liquidity are in line with similarly rated peers and that the bank has "ample sources of contingent liquidity."