KBRA Withdraws Ratings of Luther Burbank Corporation
1 Mar 2024 | 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 California-based Luther Burbank Corporation (NASDAQ: LBC). In addition, KBRA withdraws 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 its subsidiary, Luther Burbank Savings. The ratings of Luther Burbank Corporation and Luther Burbank Savings are withdrawn following the March 1, 2024 close of the company’s previously announced merger with Washington Federal, Inc. (NASDAQ: WAFD). KBRA does not currently rate the surviving entity, Washington Federal, Inc. nor its surviving bank subsidiary, Washington Federal Bank.
To access ratings and relevant documents, click here.