KBRA Upgrades and Subsequently Withdraws Ratings for The First Bancshares, Inc.
2 Apr 2025 | New York
Following the the completion of its previously announced merger with Renasant Corporation (NASDAQ: RNST) (KBRA Senior BHC rating: BBB+ / Stable Outlook) on April 1, 2025, KBRA upgrades Hattiesburg, Mississippi-based The First Bancshares, Inc.'s (NASDAQ: FBMS) senior unsecured debt rating to BBB+ from BBB, upgrades the subordinated debt rating to BBB from BBB-, and upgrades the short-term debt rating to K2 from K3. In addition, KBRA upgrades the deposit and senior unsecured debt ratings to A- from BBB+, upgrades the subordinated debt rating to BBB+ from BBB, and affirms the short-term deposit and debt ratings of K2 for FBMS' subsidiary, The First Bank. Subsequently, KBRA withdraws all ratings for The First Bancshares, Inc. and The First Bank.
To access ratings and relevant documents, click here.