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Kroll affirms HomeStreet ratings, changes outlook to 'positive'

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Kroll affirms HomeStreet ratings, changes outlook to 'positive'

Kroll Bond Rating Agency on March 29 affirmed HomeStreet Inc.'s senior unsecured debt rating of BBB- and short-term debt rating of K3.

Subsidiary HomeStreet Bank's deposit and senior unsecured debt ratings of BBB, subordinated debt rating of BBB- and short-term deposit and debt ratings of K3 were affirmed as well.

Also, Kroll revised the outlook to "positive" from "stable" for all long-term ratings, reflecting the Seattle-based company's "foresight to shift its strategy by restructuring its mortgage banking segment to align with expected market conditions, which could lead to improved operating efficiency and enhanced earnings."

Kroll said that "HomeStreet's experienced management team, and a strong risk management framework" support the ratings.