NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has released a comment on Cadence Bancorp, LLC and the potential impact of Hurricane Harvey. Cadence Bancorp, LLC is the holding company for Cadence Bank N.A., which has operations in the Hurricane affected areas.
In line with the recently released research report entitled, Hurricane Harvey’s Impact on Banks is Manageable, Kroll Bond Rating Agency (KBRA) believes that Cadence Bancorp (NASDAQ: CADE, “the Company”) and its subsidiary banking institutions’ operations will not be meaningfully affected by Hurricane Harvey. Based both on historical losses and recovery experience of banks from Hurricane Katrina and Superstorm Sandy as well as CADE’s positioning and exposure, KBRA believes that credit quality and other potential issues will remain quite manageable in the coming quarters, with minimal impact in the long-run.
To view the full comment, please click here.
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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).