Moody’s Affirms Bank of Hawaii Rating as Among Highest in Nation
March 4th, 2019
Moody’s Investors Service has affirmed its credit ratings for Bank of Hawaii, including its “Bank Deposit Long-term Rating” of Aa2. This rating places Bank of Hawaii among the top 15 financial institutions in the nation rated by Moody’s and the highest in Hawaii.
“The deposit rating is particularly important for our large commercial customers since it is indicative of the bank’s safety and soundness and ability to safeguard any deposit obligations,” said Peter Ho, Chairman President and CEO of Bank of Hawaii.
Moody’s said its overall “Baseline Credit Assessment” (BCA) of a1 reflects the bank’s “strong financial profile, supported by a leading market position in Hawaii and conservative credit culture.” The bank was among the top six institutions in the country rated by Moody’s based on BCA.
Moody’s also upgraded a prior negative outlook to stable. As noted in the report, the reason for the prior negative outlook rating was due to “above-peer” loan growth over the previous three years thereby drawing down capital. Ho notes that, “Even during that period, however, Bank of Hawaii’s capital ratios had always remained very strong.”
The Moody’s report was issued February 25, 2019.
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