Kroll Bond Rating Agency affirmed Brookline Bancorp Inc.'s senior unsecured debt rating of BBB, its subordinated debt rating of BBB- and its short-term debt rating of K3.
The agency also affirmed the ratings of Boston-based Brookline's subsidiaries: Brookline Bank and First Ipswich Bank of Massachusetts and Providence-based Bank Rhode Island. Their deposit and senior unsecured debt ratings were kept at BBB+, their subordinated debt ratings at BBB and their short-term deposit and debt ratings at K2.
Kroll said the ratings reflect "stable" fundamentals, a "relatively well-diversified" loan portfolio, "conservative management strategies" and a footprint in markets with good economic prospects. The outlook on all long-term ratings is stable.