Kroll Bond Rating Agency Releases Bridge Capital Holdings Ratings Report
NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (“KBRA”) has assigned senior unsecured debt and short-term ratings of BBB and K2, respectively, to Bridge Capital Holdings (NASDAQ:BBNK) (“Bridge Capital” or “BBNK”), a bank holding company headquartered in San Jose, CA. In addition, KBRA has assigned a senior deposit rating of BBB+ and short-term rating of K2 to Bridge Capital’s lead subsidiary, Bridge Bank, National Association (the “Bank”). The outlook on all ratings is stable.
The ratings are supported by Bridge Capital’s positive earnings trend, high quality funding base, sound capital levels, and solid net interest margin. The ratings are also balanced by concerns surrounding BBNK’s concentrations in larger commercial loans, potential liquidity pressures, and recent reduction in efficiency.
The ratings are based on KBRA’s Global Bank and Bank Holding Company Rating Methodology, published on May 2, 2013.
About Kroll Bond Rating Agency
KBRA was established in 2010 by Jules Kroll to restore trust in credit ratings by creating new standards for assessing risk and by offering accurate, clear and transparent ratings. 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).