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KBRA Releases Surveillance Report for Bridgewater Bancshares, Inc.
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
KBRA affirms ratings for Bridgewater Bancshares, Inc. but revises Outlook to Negative
Positive
KBRA affirms deposit and debt ratings of BBB+ for Bridgewater Bank
Negative
Outlook for all long-term ratings revised to Negative
NEW YORK--(BUSINESS WIRE)--
On August 10, 2023, KBRA affirmed the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, the preferred shares rating of BB+, and the short-term debt rating of K3 for St. Louis Park, Minnesota-based Bridgewater Bancshares, Inc. (NASDAQ: BWB) (“Bridgewater” or “the company”). KBRA also affirmed the deposit and senior unsecured debt ratings of BBB+, the subordinated debt rating BBB, and the short-term deposit and debt ratings of K2 for Bridgewater Bank, the main subsidiary. The Outlook for all long-term ratings was revised to Negative from Stable.
To access rating and relevant documents, click here.
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.
