KBRA Releases Surveillance Report for MidWestOne Financial Group, Inc.

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KBRA affirms ratings for MidWestOne Financial Group, Inc.

Positive

Affirmation of ratings indicates stability for the company

Negative

Outlook revised to Negative from Stable

08/21/2023 - 10:45 AM

NEW YORK--(BUSINESS WIRE)-- On June 22, 2023, KBRA affirmed the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Iowa City, Iowa-based MidWestOne Financial Group, Inc. (NASDAQ: MOFG) (“MidWestOne” or “the company”). In addition, KBRA affirmed the deposit and senior unsecured debt ratings of BBB+, the subordinated debt rating of BBB, and the short-term deposit and debt ratings of K2 for lead subsidiary, MidWestOne Bank. The Outlook for all long-term ratings was revised to Negative from 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.