Kroll Bond Rating Agency on Sept. 5 upgraded Independent Bank Group Inc.'s senior unsecured debt rating to BBB+ from BBB.
It also upgraded the McKinney, Texas-based company's subordinated debt rating to BBB from BBB- and its short-term debt rating to K2 from K3.
Kroll also upgraded subsidiary Independent Bank's deposit and senior unsecured debt ratings to A- from BBB+, and subordinated debt rating to BBB+ from BBB. The bank's short-term deposit and debt ratings were affirmed at K2.
The outlook on all long-term ratings is stable.
The ratings are supported by Independent Bank Group's "consistently strong performance in fast-growing core markets and an established track record of successful acquisitions which have positively augmented IBTX's franchise," according to Kroll.