CHICAGO--Fitch Ratings has assigned another corporate a Rating Watch Negative, this time assigning Southwest Corporate CU a long-term IRD AA- rating. According to Fitch, the negative rating reflects a concern the $14 billion corporate could experience some investment losses.
The Plano, Texas based corporate is the second corporate to be put under watch--$13.8 billion Members United Corporate was also assigned an AA- rating late last month. Like Members United, Fitch reports that Southwest corporate "does contain exposure to subprime and Alt-A mortgages."
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