Kroll Bond Rating Agency assigned ratings to Indiana, Pa.-based First Commonwealth Financial Corp., including a senior unsecured debt rating of BBB+, subordinated debt rating of BBB and short-term debt rating of K2.

The rating agency also assigned several ratings to the company's unit, First Commonwealth Bank, including deposit and senior unsecured debt ratings of A-, a subordinated debt rating of BBB+ and short-term deposit and debt ratings of K2.

The outlook for the long-term ratings is stable.

Kroll attributed the ratings to the bank's strong leadership team and sound capital management.