Kroll Bond Rating Agency (KBRA) has upgraded multiple long- and short-term credit ratings for both The Bancorp and its wholly owned subsidiary, The Bancorp Bank.
For the company, KBRA upgraded the senior unsecured debt rating to BBB+ from BBB, the subordinated debt rating to BBB from BBB- and the short-term debt rating to K2 from K3. In addition, KBRA upgraded the bank’s deposit and senior unsecured debt ratings to A- from BBB+, and the subordinated debt rating to BBB+ from BBB. The bank’s short-term deposit and debt ratings of K2 were affirmed. In conjunction with the upgraded ratings, KBRA revised its outlook for all long-term ratings to stable from positive.
