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Kroll Bond Rating Agency Places Long-Term Debt Ratings of Bank of the Ozarks, Inc. on Watch Upgrade NEW YORK, NY (May 30, 2017) – Kroll Bond Rating Agency (KBRA) has placed the senior unsecured debt rating of BBB+ and subordinated debt rating of BBB for Little Rock, Arkansas based Bank of the Ozarks, Inc. (NASDAQ: OZRK) on Watch Upgrade. Moreover, KBRA has affirmed the short-term debt rating of K2 for OZRK. The watch status is supported by the announced upcoming merger of Bank of the Ozarks into its subsidiary bank, Bank of the Ozarks, which would remove a layer of subordination as the Bank becomes the obligor of outstanding long-term debt of OZRK. KBRA is likely to resolve the watch by upgrading and withdrawing Bank of the Ozarks, Inc.’s senior and subordinated debt ratings following the completion of the merger of OZRK into its subsidiary bank. In addition, KBRA has affirmed Bank of the Ozarks’ senior unsecured debt and deposit ratings of A-, subordinated debt rating of BBB+, and short-term debt and deposit ratings of K2. The Outlook on all of Bank of the Ozarks’ long-term ratings is Stable. KBRA’s senior unsecured debt rating for OZRK is supported by the organization’s niche lending approach, loan structures, low leverage lending philosophy, and forward-looking approach to infrastructure, coupled with a strong tenured management team and a solid historical track record. The ratings are based on KBRA’s Global Bank and Bank Holding Company Rating Methodology published on February 19, 2016. Analytical Contacts: Ben Stewart, Associate Director [email protected], (301) 969-3186 Vince Arscott, Senior Director [email protected], (646) 731-2473 Follow us on Twitter! @KrollBondRating About Kroll Bond Rating Agency KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).
