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Kroll affirms Hanmi Financial's debt ratings

Kroll Bond Rating Agency on March 13 affirmed Hanmi Financial Corp.'s senior unsecured debt rating of BBB+, subordinated debt rating of BBB and short-term debt rating of K2.

Kroll also affirmed subsidiary Hanmi Bank's senior unsecured debt and deposit ratings of A-, subordinated debt rating of BBB+ and short-term debt and deposit ratings of K2.

The ratings reflect Los Angeles-based Hanmi's "consistent operating performance" and "disciplined growth strategies," as well as its "attractive geographic presence." They are constrained, however, by the company's commercial real estate loan exposure and "relatively new leadership." Another notable constraint, the rating agency pointed out, is "the singularly competitive nature of the Korean-American market niche."

The outlook on all long-term ratings is "stable."