Kroll Bond Rating Agency affirmed First Financial Bancorp.'s senior unsecured debt rating of BBB+, subordinated debt rating of BBB and short-term debt rating of K2.
The rating agency also affirmed the deposit and senior unsecured debt ratings of A-, subordinated debt rating of BBB+, and short-term deposit and debt ratings of K2 for the Cincinnati-based company's subsidiary, First Financial Bank.
All long-term ratings have a stable outlook.
The ratings reflect First Financial Bancorp.'s strong earnings on a core and risk-adjusted basis. Kroll also considered the company's relatively conservative balance sheet, attractive core deposit base and healthy core capital position.
