NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) upgrades United Community Banks, Inc.’s (NASDAQ: UCBI) (“UCBI” or “the Company”) senior unsecured debt rating to BBB, affirms UCBI’s short-term rating of K3, and assigns a subordinated debt rating of BBB-. A complete list of ratings follows for UCBI and its subsidiary, United Community Bank (“the Bank”).
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Ratings |
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Entity |
Type | Rating | Outlook | ||||||
| United Community Banks, Inc. | Senior Unsecured Debt | BBB | Stable | ||||||
| RSSD ID: 1249347 | Subordinated Debt | BBB- | Stable | ||||||
| Short-Term | K3 | ||||||||
| United Community Bank | Senior Unsecured Debt / Deposit | BBB+ | Stable | ||||||
| FDIC Certificate #: 16889 | Short-Term | K2 | |||||||
The ratings are supported by UCBI’s sound financial fundamentals as indicated by the Company’s improved earnings, strong and improved asset quality, and loan portfolio diversification as well as the Company’s experienced management team and robust credit culture. The ratings are also tempered by UCBI’s weak performance during the downturn – to include a memorandum of understanding – and relatively weak performance on KBRA’s stress test.
To view the report, please use the following link: https://www.krollbondratings.com/show_report/2260
About Kroll Bond Rating Agency
KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).
