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Kroll places Fidelity Southern ratings on 'watch developing' after deal news

Following news of Moultrie, Ga.-based Ameris Bancorp's proposed acquisition of Atlanta-based Fidelity Southern Corp., Kroll Bond Rating Agency affirmed the ratings for Ameris Bancorp and placed the ratings for Fidelity Southern on "watch developing."

The rating agency views the deal as "neutral" to Ameris Bancorp's long-term ratings in the near term and is a "potential credit positive" over time for the holders of Fidelity Southern's subordinated notes.

Kroll affirmed Ameris Bancorp's BBB senior unsecured debt rating and BBB- subordinated debt rating. The rating agency retained its positive outlook on Ameris Bancorp' long-term ratings citing management's successful acquisition strategy.