Fitch Ratings

Fitch Downgrades National City, Wamu, Others on Home Equity Concerns 

In a wide-ranging report detailing its concern for the home equity lending market, Fitch Ratings took ratings actions on eight banks, including National City and Washington Mutual, both of which saw their long-term benchmark issuer default ratings lowered. National City saw its IDR dropped to A from a previous A+ rating, while WaMu saw its IDR dropped to the BBB level, Fitch said.