Kroll Bond Rating Agency on March 13 assigned a BB+ rating to TriState Capital Holdings Inc. preferred stock.
TriState Capital's BB+ noncumulative perpetual preferred stock rating is notched from its senior unsecured debt rating of BBB and subordinated debt rating of BBB-. Kroll affirmed other ratings for the Pittsburgh-based company and its unit TriState Capital Bank on March 5.
The outlook for all long-term ratings is positive.
