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Kroll affirms ratings for Brookline Bancorp, 3 subsidiary banks

Kroll Bond Rating Agency affirmed Boston-based Brookline Bancorp Inc.'s senior unsecured debt rating of BBB, subordinated debt rating of BBB- and short-term debt rating of K3.

The rating agency also affirmed the deposit and senior unsecured debt ratings of BBB+, subordinated debt rating of BBB and short-term deposit and debt ratings of K2 for the company's subsidiary banks, Brookline Bank, Bank Rhode Island and First Ipswich Bank.

The outlook for all long-term ratings is stable.

Brookline Bancorp's ratings reflect its stable financial fundamentals, well-defined credit policies, centralized risk management framework, solid core capitalization, experienced management team, and attractive market of operations with solid economic growth prospects, according to Kroll.