Kroll Bond RatingAgency on July 20 affirmed a number of ratings for Reston, Va.-based ,including its senior unsecured debt and subordinated debt ratings of BBB and BBB-,respectively.
The rating agencyalso affirmed the company's short-term debt rating of K3, as well as 's BBB+ depositand senior unsecured debt ratings and K2 short-term deposit and debt ratings. Krollalso assigned the bank a subordinated debt rating of BBB.
The outlookon all long-term ratings was also revised to positive from stable, due to betterearnings metrics and stronger generation of fee income for the company due to itsacquisition of 1st Portfolio.Also factoring into the outlook revision was improvement in the company's capitallevels.
In addition,Kroll stated that the company's financial fundamentals as indicated by strong andstable asset quality, sustained balance sheet and revenue growth were factors thatsupport its ratings, in addition to the company's trend toward higher earnings metrics,experienced management team and enhanced noninterest earning streams.