Fitch Rates BankUnited, Inc's Senior Debt Issuance 'BBB'

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has assigned BankUnited, Inc's (BankUnited; 'BBB'/Outlook Stable) senior 4.875% fixed-rate notes due 2025 a senior unsecured rating of 'BBB'. The notes were issued under BankUnited's shelf registration filed on Oct. 26, 2015.

The proceeds will be used for general corporate purposes, including investments in and advances to BankUnited's subsidiaries, including BankUnited, N.A.

KEY RATING DRIVERS

The notes are rated at the same level as BankUnited's 'BBB' long-term Issuer Default Rating (IDR). This is because the notes constitute direct, unsubordinated and unsecured obligations of BankUnited and will rank equally with all its other unsecured and unsubordinated obligations.

RATING SENSITIVITIES

The rating of the notes is sensitive to changes in BankUnited's IDR, which is driven by its Viability Rating of bbb'.

For more details on BankUnited's ratings and credit profile, see the press release 'Fitch Assigns 'BBB/F2' IDRs to BankUnited, Inc; Outlook Stable', dated Oct. 27, 2015, which is available at 'www.fitchratings.com'.

Fitch currently rates BankUnited as follows:

BankUnited, Inc.

--Long-term IDR 'BBB';

--Senior debt rating 'BBB';

--Short-term IDR 'F2';

--Viability Rating 'bbb';

--Support Rating '5';

--Support Floor 'NF'.

BankUnited, N.A.

--Long-term IDR 'BBB';

--Short-term IDR 'F2';

--Long-term Deposits 'BBB+';

--Short-term Deposits 'F2';

--Viability Rating 'bbb';

--Support Rating '5';

--Support Floor 'NF'.

Additional information is available on www.fitchratings.com

Applicable Criteria

Global Bank Rating Criteria (pub. 20 Mar 2015)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=863501

Additional Disclosures

Dodd-Frank Rating Information Disclosure Form

https://www.fitchratings.com/creditdesk/press_releases/content/ridf_frame.cfm?pr_id=993984

Solicitation Status

https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=993984

Endorsement Policy

https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31

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View source version on businesswire.com: http://www.businesswire.com/news/home/20151113005513/en/

Fitch Ratings
Primary Analyst
Stefan Kahandaliyanage, CFA
Associate Director
+1-646-582-4918
Fitch Ratings, Inc.
33 Whitehall St.
New York, NY 10004
or
Secondary Analyst
Doriana Gamboa
Senior Director
+1-212-908-0865
or
Committee Chairperson
Julie Solar
Senior Director
+1-312-368-5472
or
Media Relations:
Hannah James, +1 646-582-4947
[email protected]

Source: Fitch Ratings

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