NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has assigned a deposit rating of A+ and a short-term deposit rating of K1 to Signature Bank (NASDAQ: SBNY, “the Bank”). In addition, KBRA has assigned a senior unsecured debt rating of A+, a subordinated debt rating of A, and a short-term debt rating of K1 to SBNY. The outlook on all ratings is stable.
The ratings are supported by SBNY’s solid financial fundamentals as evidenced through strong earnings metrics, a healthy liquidity position and sound capital ratios. Moreover, the ratings are reinforced by Signature’s highly experienced management team, disciplined underwriting practices, and above peer performance during the downturn. Ratings are primarily constrained by the Bank’s spread reliant earnings streams and relatively low geographic diversification. However, overall credit quality remains strong and geographic concentration concerns are largely mitigated by management’s deep knowledge of key markets.
The ratings are based on KBRA’s Global Bank and Bank Holding Company Rating Methodology published on January 28, 2015.
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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).
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