Kroll Bond Rating Agency on March 16 assigned Simmons First National Corp. a senior unsecured debt rating of BBB+, a subordinated debt rating of BBB and a short-term debt rating of K2.
Subsidiary Simmons Bank was assigned deposit and senior unsecured debt ratings of A-, a subordinated debt rating of BBB+ and short-term deposit and debt ratings of K2.
Pine Bluff, Ark.-based Simmons First's ratings reflect its "diversified product offerings ... comprehensive risk management framework [and] disciplined and thoughtful approach to M&A," among other factors. The ratings are constrained, however, by "marginally weaker than average asset quality metrics" and below-peer capital ratios.
The outlook for all long-term ratings is "stable."
