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Kroll affirms ratings of Lakeland Bancorp, unit


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Kroll affirms ratings of Lakeland Bancorp, unit

Kroll Bond Rating Agency affirmed Lakeland 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 Lakeland Bancorp unit Lakeland Bank.

The outlook for all long-term ratings is stable.

In affirming the ratings, Kroll noted the Oak Ridge, N.J.-based company's "solid" deposit franchise and "healthy" asset quality metrics, among other things.