Kroll Bond Rating Agency Assigns Ratings to F.N.B. Corporation

Kroll Bond Rating Agency (KBRA) has assigned a senior unsecured debt rating of BBB+, a subordinated debt rating of BBB, and a short-term rating of K2 to F.N.B. Corporation (NYSE: FNB), a bank holding company headquartered in Pittsburgh, PA. In addition, KBRA has assigned a deposit rating of A-, senior unsecured debt rating of A-, short-term deposit rating of K2, and short-term debt rating of K2 to its subsidiary, First National Bank of Pennsylvania. The outlook on all ratings is stable.

The ratings are supported by FNB’s solid financial fundamentals as evidenced by strong and improving asset quality, stable earnings metrics, and a healthy efficiency ratio. Moreover, the ratings are reinforced by FNB’s highly experienced management team, diversified earnings streams, and notable market share in key geographies. Ratings are primarily constrained by comparatively lower but still comfortable capital ratios and potential acquisition-related risks. Acquisition-related concerns, however, are largely mitigated by management’s favorable acquisition-related track record, prudent credit marks on acquired portfolios, and the relatively small size of each transaction in the context of FNB’s consolidated balance sheet.

The ratings are based on KBRA’s Global Bank and Bank Holding Company Rating Methodology published on January 28, 2015.

Please use the following link to view the report:

www.krollbondratings.com/show_report/2959

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).

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