S&P upgrades BOK

Standard & Poor's said it raised the issuer credit rating on BOK Financial Corp. to A- from BBB+ and the issuer credit ratings on its subsidiary, BOKF NA, to A/A-1 from A-/A-2.

The outlook is stable.

The upgrade reflects a view that the company's asset quality metrics will continue to compare favorably with industry averages and remain in line with peers in the new ratings category, said Catherine Mattson, an S&P analyst.

The company also has diversified its business, both geographically and by revenue type, over the past several years, reducing its concentration in Oklahoma-based loans and broadening the mix of its earnings stream, the analyst said.

The ratings also consider an expectation that the company will maintain its strong capital and consistent profitability in addition to robust credit quality, Mattson said.

"We view BOK as a conservatively capitalized and effectively managed enterprise," she said.

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