KBRA Affirms Ratings for Banc of California, Inc. and Withdraws Ratings for PacWest Bancorp
These ratings actions, which include the resolution of the Watch Developing status for both Pacwest Bancorp and Pacific Western Bank, coincide with the completion of the merger between BANC and PACW.
- These ratings actions, which include the resolution of the Watch Developing status for both Pacwest Bancorp and Pacific Western Bank, coincide with the completion of the merger between BANC and PACW.
- merged into Pacific Western Bank (“PWB”), with the surviving entities operating under the Banc of California name and brand.
- KBRA considers the merger to be a strategically favorable one by creating a leading California focused commercial banking institution.
- The Stable Outlook is reflective of KBRA’s view that a change to the long term ratings of BANC is unlikely over the near term.