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Kroll affirms Israel Discount Bank's debt, deposit ratings

Kroll Bond Rating Agency on Oct. 18 affirmed Israel Discount Bank of New York's senior unsecured debt and deposit ratings of A-, subordinated debt rating of BBB+, and short-term debt and deposit ratings of K2.

The outlook on all long-term ratings is stable. The rating agency said the ratings reflect the bank's "better-than-average asset quality" and the management team's "extensive knowledge of [its] high-profile customer base," while taking into account the "potential for uncertainty" in light of recent executive changes.

The New York-based bank is a subsidiary of Discount Bancorp Inc., which in turn is a subsidary of Israel-based Israel Discount Bank Ltd.