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Kroll affirms Pacific Mercantile Bank

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Kroll affirms Pacific Mercantile Bank

Kroll Bond Rating Agency affirmed the BB+ senior unsecured debt and deposit ratings, BB subordinated debt rating, and B short-term deposit and debt ratings for Pacific Mercantile Bancorp unit Pacific Mercantile Bank.

The outlook for the long-term ratings has been changed to positive from stable, based on the bank's "improved core operating performance and risk management enhancements," according to the rating agency.