NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (“KBRA”) has assigned a senior unsecured debt rating of BBB and a short-term rating of K3 to Brookline Bancorp, Inc. (NASDAQ:BRKL) (“Brookline” or “BRKL”), a bank holding company headquartered in Boston, MA. In addition, KBRA has assigned a senior deposit ratings of BBB+ and a short-term rating of K2 to Brookline Bancorp’s subsidiaries, Brookline Bank, Bank Rhode Island, and First Ipswich Bank (the “Banks”). Moreover, Brookline has been issued a subordinated debt rating of BBB-. The outlook on all ratings is stable.
The ratings are supported by Brookline’s relatively strong and improving credit quality, trend of positive earnings, and healthy net interest margin. The ratings are also balanced by concerns surrounding Brookline’s concentrations in larger commercial loans and relatively low return on assets.
The ratings are based on KBRA’s Global Bank and Bank Holding Company Rating Methodology, published on May 2, 2013.
To view the report, please visit www.kbra.com.
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).