Kroll Bond Rating Agency assigned Greenville, S.C.-based Southern First Bancshares Inc. a senior unsecured debt rating of BBB, subordinated debt rating of BBB- and short-term debt rating of K3.
In addition, the rating agency assigned deposit and senior unsecured debt ratings of BBB+, a subordinated debt rating of BBB, and short-term deposit and debt ratings of K2 for the company's unit, Southern First Bank.
The outlook for all long-term ratings is stable.
Among the factors that Kroll considered in the ratings are the company's "highly experienced and capable management team" and "strong through-the-cycle asset quality."
