Cadence Bancorporation Subsidiary Secures Investment Grade Rating from S&P Global Ratings
November 14 2019 - 10:37AM
Business Wire
Cadence Bancorporation (NYSE: CADE) announced that Cadence Bank,
a wholly owned subsidiary of the organization, received an
investment grade rating from S&P Global. S&P assigned
Cadence Bank a rating of BBB- for long-term issuer credit with an
outlook of Stable.
“This rating is a significant step forward in our growth
strategy and ability to attract high-quality clients,” said Paul B.
Murphy, Jr., chairman and CEO, Cadence Bancorporation. “As a
universal benchmark, the S&P Global rating substantiates our
sound business principles, talented team of bankers and the
strength of our customer base. The third-party validation of our
solid performance is immensely rewarding.”
Credit ratings provide transparent information and insight to
market participants to keep capital markets running smoothly and
offer third-party opinions that allow investors to make more
informed decisions.
Cadence Bank also holds investment grade ratings from Kroll Bond
Rating Agency: Senior Long-Term Debt BBB+, Subordinated Debt BBB
and Short-Term Debt K2.
About Cadence Bancorporation
Cadence Bancorporation (NYSE: CADE), headquartered in Houston,
Texas, is a regional financial holding company with $17.9 billion
in assets as of September 30, 2019. Cadence operates 98 branch
locations in Alabama, Florida, Georgia, Mississippi, Tennessee and
Texas, and provides corporations, middle-market companies, small
businesses and consumers with a full range of innovative banking
and financial solutions. Services and products include commercial
and business banking, treasury management, specialized lending,
asset-based lending, commercial real estate, SBA lending, foreign
exchange, wealth management, investment and trust services,
financial planning, retirement plan management, personal and
business insurance, consumer banking, consumer loans, mortgages,
home equity lines and loans, and credit cards. Clients have access
to leading-edge online and mobile solutions, interactive teller
machines, and more than 55,000 ATMs. The Cadence team of 1,800
associates is committed to exceeding customer expectations and
helping their clients succeed financially.
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Cadence Bancorporation
Media contact: Danielle Kernell 713-871-4051
danielle.kernell@cadencebank.com Investor relations contact:
Valerie Toalson 713-871-4103 or 800-698-7878
vtoalson@cadencebancorporation.com
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