Kroll Bond Rating Agency Assigns BBB+/K2 Senior Long-Term and Short-Term Debt Ratings to LegacyTexas Financial Group, Inc.

NEW YORK--()--Kroll Bond Rating Agency (KBRA) has assigned a senior unsecured debt rating to BBB+, a subordinated debt rating of BBB, and a short-term rating of K2 to LegacyTexas Financial Group, Inc. (“LTXB” or “the Company”) based on KBRA’s Global Bank and Bank Holding Company Rating Methodology published on January 28, 2015. A complete list of ratings follows for LTXB and its subsidiary, LegacyTexas Bank (“the Bank”).

Ratings

                         

Entity

    Type     Rating     Action     Outlook  

LegacyTexas Financial Group, Inc.

    Senior Unsecured Debt     BBB+     Assigned     Stable  

RSSD ID: 4191465

    Subordinated Debt     BBB     Assigned     Stable  
      Short-Term     K2     Assigned     -  

LegacyTexas Bank

    Deposit     A-     Assigned     Stable  

FDIC Certificate #: 58006

    Senior Unsecured Debt     A-     Assigned     Stable  
      Short-Term Deposit     K2     Assigned     -  
      Short-Term Debt     K2     Assigned     -  

The proposed ratings are supported by LTXB’s strong management team and infrastructure, sound asset quality, and performance on KBRA’s stress testing. The rating is also tempered by LTXB’s limited operating history (in its current form), minimal geographic diversification, and the impact of the recent merger.

To view the report, please use the following link: https://www.krollbondratings.com/show_report/2805

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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).

Contacts

Analytical:
Kroll Bond Rating Agency
Ben Stewart, 240-394-4145
Associate
bstewart@kbra.com
or
Joe Scott, 646-731-2438
Senior Director
jscott@kbra.com
or
Chris Whalen, 646-731-2366
Senior Managing Director
cwhalen@kbra.com

Contacts

Analytical:
Kroll Bond Rating Agency
Ben Stewart, 240-394-4145
Associate
bstewart@kbra.com
or
Joe Scott, 646-731-2438
Senior Director
jscott@kbra.com
or
Chris Whalen, 646-731-2366
Senior Managing Director
cwhalen@kbra.com