Kroll Bond Rating Agency on Dec. 7 affirmed Southern National Bancorp of Virginia Inc.'s senior unsecured debt rating of BBB, subordinated debt rating of BBB- and short-term debt rating of K3.
It also affirmed subsidiary Sonabank's deposit and senior unsecured debt ratings of BBB+, subordinated debt rating of BBB and short-term deposit and debt ratings of K2.
Kroll said the ratings take into account McLean, Va.-based Southern National's "historically strong" albeit "spread reliant" earnings, the economy of the markets in which it operates and its "relatively low market share."
The outlook on all long-term ratings is stable.
