KBRA Withdraws Ratings of PeoplesBancorp, MHC
10 Oct 2023 | New York
KBRA withdraws the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Holyoke, Massachusetts-based PeoplesBancorp, MHC ("the company"). Further, KBRA withdraws the senior unsecured debt and deposit ratings of BBB+, the subordinated debt rating of BBB, and the short-term debt and deposit ratings of K2 for lead subsidiary bank, PeoplesBank. The withdrawal of ratings for PeoplesBancorp, MHC and PeoplesBank is at the request of the issuer and directly correlates with the anticipated repayment of the company's subordinated debt, which is expected to occur in 4Q23.
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