KBRA Releases Surveillance Report for First Northwest Bancorp

6 Mar 2024   |   New York


On February 26, 2024, KBRA downgraded the senior unsecured debt rating to BBB- from BBB, downgraded the subordinated debt rating to BB+ from BBB-, and affirmed the short-term debt rating of K3 for Port Angeles, Washington-based First Northwest Bancorp. (NASDAQ: FNWB). In addition, KBRA downgraded the deposit and senior unsecured debt ratings to BBB from BBB+, the subordinated debt rating to BBB- from BBB, and the short-term debt and deposit ratings to K3 from K2 for its subsidiary, First Fed Bank. 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: 1003330

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