NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) releases compendium on the public banks with KBRA long-term ratings. Based on third quarter earnings reports, performance trends for the public institutions in KBRA’s rated universe of U.S. banks remain stable as compared to both the second quarter of 2016 and the third quarter of 2015. Ratings remained largely unchanged, as did the overall rating distribution since the Second Quarter Compendium Report was published on August 12, 2016; eight new ratings were assigned during the quarter, two ratings were withdrawn due to acquisition, one institution was downgraded, and one institution’s rating outlook was changed.
Based on quarterly results and year-over-year performance, KBRA’s outlook for its universe of long-term rated banking institutions is unchanged. While there is potential for rating migration in individual ratings, KBRA believes that, overall, the rated banking institutions will continue to perform soundly in the near- to medium-term. The report also contains third quarter summaries and current ratings for all sixty-nine publicly traded domestic banks which KBRA currently rates.
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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).