USA, May 19, 2009 (Info-Prod Research) -- Moody's Investors Service downgraded the bankfinancial (NASDAQ:BFIN) strength rating (BFSR) and the long- and short-term deposit anddebt ratings of United Bank, Inc. and United Bank, the two banksubsidiaries of United Bankshares (NASDAQ:UBSI) , Inc. The BFSRs of the two banks werelowered to C from C+, their long- and short-term deposit ratings to A3and Prime-2 from A2 and Prime-1, respectively, and their issuer ratingsto A3 from A2. United Bankshares, Inc., the holding company, is notrated. The outlook is negative. This concludes the review for possibledowngrade that was initiated on March 12, 2009. United Bankshares, Inc.and its subsidiaries are collectively referred to hereafter as 'United'. The downgrade and negative outlook reflect Moody's view that United'sfinancial strength, particularly its capital levels and earningsgeneration, are likely to experience pressure from deterioration in itscommercial real estate loan portfolios and its securities portfolios overthe next 12 to 18 months. More specifically, Moody's expects United to incur increased credit losses in its commercial real estate lending portfolio, especially onresidential and commercial construction loans. United's non-owner-occupiedcommercial real estate exposure represents a concentration risk at about3.8 times the company's adjusted tangible common equity. Furthermore,some large single-client exposures weigh on the company's exposuregranularity metrics. Moody's also expects United to incur write-downs ofsecurities arising principally in the company's portfolio of privatelabel RMBS and other non-agency structured and corporate securities. Moody's recognizes that United's asset quality indicators, despite somerecent weakening, remain superior to similarly rated peers, and thisperformance was incorporated into Moody's views of the loss content inthe bank's portfolios and supported the rating outcome. United'sprofitability has also held up better than most in the rating peer group,Moody's added. Notwithstanding the downgrade, Moody's views United as operating a solid and sustainable regional bank franchise in a footprint that extends fromWest Virginia and Ohio in the west through Virginia, Maryland andWashington, D.C. in the east.