Kroll Bond Rating Agency has assigned a senior unsecured debt rating of BBB+ and a short-term debt rating of K2 with a stable outlook to Olney, Md.-based Sandy Spring Bancorp Inc.
The rating agency also assigned deposit and senior unsecured debt ratings of A-, a subordinated debt rating of BBB+, and short-term deposit and debt ratings of K2 for its subsidiary, Sandy Spring Bank.
The ratings reflect the Sandy Spring Bancorp's firm market position and healthy core deposit franchise, Kroll said. The rating agency added that the bank's strengths are limited by some commercial real estate loan concentration and a narrow geographic focus.
