Kroll Bond Rating Agency assigned a senior unsecured debt rating of A-, subordinated debt rating of BBB+ and short-term debt rating of K2 to Midland, Mich.-based Chemical Financial Corp.
For Chemical Bank, the rating agency assigned deposit and senior unsecured debt ratings of A, subordinated debt rating of A- and short-term deposit and debt ratings of K1.
The outlook on all long-term ratings is stable.
The ratings are supported by Chemical Financial's solid operating profitability metrics, a comparatively favorable track record through the downturn, a well diversified loan portfolio by type, a strong credit culture, and an experienced management team, the rating agency said.
