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Stock impact report

KBRA Assigns Ratings to OFG Bancorp, Inc. and Affirms Ratings for Oriental Bank [Yahoo! Finance]

OFG Bancorp (OFG) 
Last ofg bancorp earnings: 4/29 07:30 am Check Earnings Report
Company Research Source: Yahoo! Finance
debt rating of K3 to San Juan, Puerto Rico-based OFG Bancorp, Inc. (NYSE: OFG) ("the company"). In addition, KBRA affirms the deposit and senior unsecured debt ratings of BBB+ and the short-term deposit and debt ratings of K2 for its bank subsidiary, Oriental Bank ("the bank"). The Outlook for all long-term ratings is Stable. Key Credit Considerations Oriental Bank's ratings continue to be anchored by the ongoing economic recovery in PR, as well as management's stewardship during periods of unforeseen and severe natural disasters, the COVID era disruptions, and economic dislocation caused by the Commonwealth's debt default in 2016. The positive economic performance in PR has been driven by the inflow of federal funds and private capital, the bulk of which has been invested in and remains targeted toward growth and infrastructure projects, which has helped to stabilize the unemployment rate at low levels. The Child Tax Credit expansion in 2021 has strengthened household finances an Show less Read more
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