Kroll Bond Rating Agency on Jan. 16 affirmed First Mutual Holding Co.'s BBB senior unsecured debt rating, BBB- subordinated debt rating and K3 short-term debt rating.
It also affirmed subsidiary First Federal Savings and Loan Association of Lakewood's deposit and senior unsecured debt ratings of BBB+, subordinated debt rating of BBB, and short-term deposit and debt ratings of K2.
The outlook for all long-term ratings is "stable."
The ratings are supported by the Lakewood, Ohio-based company's low risk profile, strong asset quality history and solid capitalization. In addition, the company's "evolving strategic direction, which includes planned product diversification, a focus on improving efficiency in the medium term, and measured expansion" also support the ratings, according to Kroll.