Kroll Bond Rating Agency on Oct. 17 affirmed First National of Nebraska Inc.'s A- senior unsecured debt rating, BBB+ subordinated debt rating and K2 short-term debt rating.
The rating agency also affirmed subsidiary First National Bank of Omaha's deposit and senior unsecured debt ratings, at A; subordinated debt rating at A-; and short-term deposit and short-term debt ratings, at K1.
The ratings reflect the Omaha, Neb.-based company's historically above average earnings metrics, conservative underwriting standards for credit card loans, low-cost core deposit base and deposit market share, and favorable Dodd-Frank Act stress-test results. The ratings take into account the increased pressure in its agricultural loan book.
The outlook for the long-term ratings is stable.