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Kroll assigns ratings to Orrstown Financial

Kroll Bond Rating Agency assigned a BBB senior unsecured debt rating, BBB- subordinated debt rating and K3 short-term debt rating for Shippensburg, Pa.-based Orrstown Financial Services Inc.

For subsidiary Orrstown Bank, the rating agency assigned deposit and senior unsecured debt ratings of BBB+, subordinated debt rating of BBB and short-term deposit and debt ratings of K2.

The outlook on all long-term ratings is stable.

The ratings reflect Orrstown Financial's strong management team; its relationship banking approach focused on core depository funding; diversified revenue mix; and sophisticated infrastructure, capable of supporting a substantially bigger entity, the rating agency said.