Fitch Rates BOK Financial Corp. Subordinated Debt Issuance 'A-'
The debt level ratings detailed below are consistent with Fitch's notching criteria from each of the entities Long - and Short-Term Issuer Default Ratings (IDRs) and Viability Rating (VR). The IDRs are currently 'A/F1', and the VR is 'a', all of which were last affirmed on Jan. 28, 2016.
At the same time, Fitch revised the Rating Outlook for the Long-Term IDR to negative given the more challenging environment in the largely energy-driven economies of Texas and Oklahoma where the company principally operates.
KEY RATING DRIVERS
SUBORDINATED DEBT AND OTHER HYBRID SECURITIES
BOKF's subordinated debt rating is one notch below the entity's VR of 'a' in accordance with Fitch's assessment of each instrument's respective non-performance and relative loss severity risk profile.
RATING SENSITIVITIES
SUBORDINATED DEBT AND OTHER HYBRID SECURITIES
The ratings of subordinated debt issued by BOKF are primarily sensitive to any change in the entity's VR.
Fitch assigns the following rating:
BOK Financial Corporation
--Subordinated debt rated 'A-'.
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