WaMu Ratings Under Review

DBRS has placed all ratings of Washington Mutual Inc. and Washington Mutual Bank Under Review with Negative Implications. The rating agency said the action reflects its concerns that recent market events may hurt WaMu's ability to protect its strong national franchise. (WaMu's issuer and senior debt rating stands at BBB.) DBRS noted WaMu's Sept. 11 release laying out expectations for its third-quarter performance, including lower expected loan-loss provisions. The release reported no change in the company's long-term credit outlook and said liquidity remained stable at approximately $50 billion. "DBRS views liquidity at the holding company level as adequate, with cash to meet its obligations throughout the next several years," the rating agency said. "WaMu expects that capital will remain above well-capitalized levels. Although DBRS currently views liquidity as sufficient, it also realizes that market events can quickly affect the financial flexibility of an organization."