Press Release|Financial Institutions
View PDF

KBRA Upgrades and Subsequently Withdraws Ratings for Pacific Premier Bancorp, Inc.

5 Sep 2025   |   New York

Contacts

KBRA upgrades the senior unsecured debt rating to A- from BBB+, upgrades the subordinated debt rating to BBB+ from BBB, and affirms the short-term debt rating of K2 for Irvine, California based Pacific Premier Bancorp, Inc. (NASDAQ: PPBI). In addition, KBRA upgrades the deposit and senior unsecured debt ratings to A from A-, the subordinated debt rating to A- from BBB+, and the short-term deposit and debt ratings to K1 from K2 for Pacific Premier Bank, the lead bank subsidiary. Subsequently, KBRA withdraws all ratings for Pacific Premier Bank and PPBI following the September 2, 2025 completion of its previously announced merger with Columbia Banking System, Inc. (NASDAQ: COLB).

To access ratings and relevant documents, click here.

Methodologies

Disclosures

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan’s Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S.

Doc ID: 1011154