Kroll Bond Rating Agency Releases Comment on Zions Bancorporation’s Third Quarter 2015 Results

NEW YORK--()--Kroll Bond Rating Agency (KBRA) released a comment on Zions Bancorporation’s third quarter earnings results.

  • Zions Bancorporation (NASDAQ: ZION, or “the Company”) released its third quarter 2015 earnings results, which demonstrated performance consistent with objectives related to its multi initiative corporate restructuring announced earlier this year.
  • In terms of credit quality, total nonperforming assets (NPAs) fell slightly during the third quarter of 2015, to 0.98%, from 1.00% at June 30, 2015.
  • Energy loans have performed in keeping with expectations. Classified energy loans rose $118 million, to $444 million.
  • Current outstanding exposure to oil and gas energy-related loans amounts to $3.0 billion, or around 7.6% of the total loan portfolio.
  • Further energy related loan downgrades are likely; however, the Company has established a substantial reserve for the portfolio, and presently, credit metrics generally appear at comfortable levels.
  • In March of 2015, KBRA affirmed Zions Bancorporation’s senior unsecured debt rating of BBB, subordinated debt rating of BBB-, and a short-term rating of K2. The outlook on all ratings remains stable.

To view the report, please use the following link:

https://www.krollbondratings.com/show_report/3127

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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
Ashley Phillips, 240-394-4150
Associate
aphillips@kbra.com
or
Joseph Scott, 646-731-2438
Senior Director
jscott@kbra.com
or
Christopher Whalen, 646-731-2366
Senior Managing Director
cwhalen@kbra.com

Contacts

Analytical:
Kroll Bond Rating Agency
Ashley Phillips, 240-394-4150
Associate
aphillips@kbra.com
or
Joseph Scott, 646-731-2438
Senior Director
jscott@kbra.com
or
Christopher Whalen, 646-731-2366
Senior Managing Director
cwhalen@kbra.com