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Kroll affirms ratings for SmartFinancial, unit

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Kroll affirms ratings for SmartFinancial, unit

Kroll Bond Rating Agency affirmed the BBB senior unsecured debt rating, BBB- subordinated debt rating and K3 short-term debt rating for Knoxville, Tenn.-based SmartFinancial Inc.

The rating agency also affirmed the deposit and senior unsecured debt ratings of BBB+, subordinated debt rating of BBB, and short-term deposit and debt ratings of K2 for the company's unit, SmartBank.

The outlook for all long-term ratings is stable.

Among the factors Kroll considered in the ratings are SmartFinancial's strong asset quality and improved funding mix. The rating agency also noted that the company's core earnings continue to trend positively.