Kroll Bond Rating Agency (KBRA) has assigned a senior unsecured debt
rating of BBB+, a subordinated debt rating of BBB, and
short-term rating of K2 to Univest Corporation of Pennsylvania
(NASDAQ: UVSP) (“UVSP” or “the Company”), a bank holding company
headquartered in Souderton, Pennsylvania. In addition, KBRA has assigned
a senior deposit rating of A- and short-term rating of K2
to Univest Bank and Trust Co. (“the Bank”). The outlook on all
ratings is stable.
The ratings are supported by UVSP’s sound financial fundamentals as
indicated by a consistent record of positive earnings, balanced lending
portfolio, and diversified business lines / revenue. The rating is also
tempered by the Bank’s relatively high, although declining, charge-off
experience, moderately high efficiency ratio, and sound, but
comparatively low regulatory capital ratios.
|
|
|
Ratings
|
|
Entity
|
|
|
Type
|
|
|
Rating
|
|
|
Outlook
|
|
Univest Corporation of Pennsylvania
|
|
|
Senior Unsecured Debt
|
|
|
BBB+
|
|
|
Stable
|
|
RSSD ID: 1116609
|
|
|
Subordinated Debt
|
|
|
BBB
|
|
|
Stable
|
|
|
|
|
Short-Term
|
|
|
K2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Univest Bank and Trust Co.
|
|
|
Senior Deposit
|
|
|
A-
|
|
|
Stable
|
|
FDIC Certificate #: 7759
|
|
|
Short-Term
|
|
|
K2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To view the report, please use the following link:
https://www.krollbondratings.com/show_report/2097
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).
Copyright Business Wire 2015