Curated News
By: NewsRamp Editorial Staff
September 30, 2024
Moody's Confirms Investor Grade Ratings for Peapack-Gladstone Financial Corporation and Peapack-Gladstone Bank
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- Peapack-Gladstone Financial Corporation's investor grade ratings confirmed by Moody's, indicating strong capital position and funding profile improvements.
- Moody's extensively reviewed the business fundamentals and financial conditions of the Company and the Bank to establish the rating.
- The confirmed ratings reflect the strength of the company's current strategy and business model, providing stability and confidence for investors.
- Moody's confirmed Baa3 long term local currency issuer rating for Peapack-Gladstone Financial Corporation and baa2 baseline credit assessment for the Bank.
Impact - Why it Matters
This news matters as it demonstrates the financial strength and stability of Peapack-Gladstone Financial Corporation and its banking subsidiary, which is crucial for investors, stakeholders, and customers. The confirmation of investor grade ratings by Moody’s indicates the Company’s ability to withstand economic challenges and maintain a strong position in the market.
Summary
Moody’s Investors Service has confirmed investor grade ratings for Peapack-Gladstone Financial Corporation and its banking subsidiary, Peapack-Gladstone Bank. The ratings reflect the Company’s solid capital position and improvements in funding and liquidity profile. Moody’s also indicated the Company’s resilience during the 2023 regional banking crisis. President and CEO Douglas L. Kennedy expressed gratification, stating that this confirmation is a true indicator of the strength of the current strategy and business model.
Source Statement
This curated news summary relied on this press release disributed by NewMediaWire. Read the source press release here, Moody's Confirms Investor Grade Ratings for Peapack-Gladstone Financial Corporation and Peapack-Gladstone Bank
