Kroll Bond Rating Agency assigned a senior unsecured debt rating of BBB, subordinated debt rating of BBB- and short-term debt rating of K3 to Holyoke, Mass.-based PeoplesBancorp MHC.

The rating agency also assigned deposit and senior unsecured debt ratings of BBB+, subordinated debt rating of BBB and short-term deposit and debt ratings of K2 to PeoplesBancorp's unit, PeoplesBank.

The outlook for all long-term ratings is stable.

The assigned ratings, according to the rating agency, are supported by PeoplesBancorp's "peer leading asset quality, stemming from the company's sound loan underwriting and monitoring practices, limiting credit losses to very manageable levels, including throughout the financial crisis."