Fitch Rates BOK Financial Corp. Subordinated Debt Issuance 'A-'

NEW YORK--()--Fitch Ratings has assigned an 'A-' rating to BOK Financial Corporation's (BOKF) $150 million 5.375% subordinated debt issuance.

The debt level ratings detailed below are consistent with Fitch's notching criteria from each of the entities Long- and Short-Term Issuer Default Ratings (IDRs) and Viability Rating (VR). The IDRs are currently 'A/F1', and the VR is 'a', all of which were last affirmed on Jan. 28, 2016.

At the same time, Fitch revised the Rating Outlook for the Long-Term IDR to negative given the more challenging environment in the largely energy-driven economies of Texas and Oklahoma where the company principally operates.

KEY RATING DRIVERS

SUBORDINATED DEBT AND OTHER HYBRID SECURITIES

BOKF's subordinated debt rating is one notch below the entity's VR of 'a' in accordance with Fitch's assessment of each instrument's respective non-performance and relative loss severity risk profile.

RATING SENSITIVITIES

SUBORDINATED DEBT AND OTHER HYBRID SECURITIES

The ratings of subordinated debt issued by BOKF are primarily sensitive to any change in the entity's VR.

Fitch assigns the following rating:

BOK Financial Corporation

--Subordinated debt rated 'A-'.

Additional information is available on www.fitchratings.com

Applicable Criteria

Global Bank Rating Criteria (pub. 20 Mar 2015)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=863501

Additional Disclosures

Dodd-Frank Rating Information Disclosure Form

https://www.fitchratings.com/creditdesk/press_releases/content/ridf_frame.cfm?pr_id=1007780

Solicitation Status

https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=1007780

Endorsement Policy

https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31

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Contacts

Fitch Ratings
Primary Analyst
Doriana Gamboa
Senior Director
+1-212-908-0865
Fitch Ratings, Inc.
33 Whitehall St
New York, NY 10004
or
Secondary Analyst
Bain Rumohr, CFA
Director
+1-312-368-3153
or
Committee Chairperson
Christopher Wolfe
Managing Director
+1-212-908-0771
or
Media Relations:
Hannah James, +1 646-582-4947
hannah.james@fitchratings.com

Contacts

Fitch Ratings
Primary Analyst
Doriana Gamboa
Senior Director
+1-212-908-0865
Fitch Ratings, Inc.
33 Whitehall St
New York, NY 10004
or
Secondary Analyst
Bain Rumohr, CFA
Director
+1-312-368-3153
or
Committee Chairperson
Christopher Wolfe
Managing Director
+1-212-908-0771
or
Media Relations:
Hannah James, +1 646-582-4947
hannah.james@fitchratings.com