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S&P assigns ratings to First Commonwealth Financial Corp., unit


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S&P assigns ratings to First Commonwealth Financial Corp., unit

S&P Global Ratings on May 10 assigned Indiana, Pa.-based First Commonwealth Financial Corp. a long-term issuer credit rating of BBB-.

The rating agency also assigned a long-term issuer credit rating of BBB to subsidiary First Commonwealth Bank. The outlooks on both of the ratings are "stable."

According to S&P Global Ratings, the stable outlook on both First Commonwealth Financial and First Commonwealth Bank reflects the rating agency's expectation that First Commonwealth Financial will retain good credit quality and sufficient capital ratios. The outlook, according to the rating agency, also reflects that First Commonwealth Financial's recent acquisitions "will be integrated successfully and will not result in a material increase in loan losses."

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.