KBRA Releases Surveillance Report for Independent Bank Corporation
4 Jun 2024 | New York
On May 3, 2024, KBRA affirmed the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Grand Rapids, Michigan based Independent Bank Corporation (NASDAQ: IBCP). In addition, KBRA affirmed the deposit and senior unsecured debt ratings of BBB+, the subordinated debt rating of BBB, and the short-term deposit and debt ratings of K2 for Independent Bank, the lead subsidiary. The Outlook for all long-term ratings is Stable.
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About KBRA
KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.
Doc ID: 1004591