Fitch rates King's Town Bank BB+

Fitch Ratings said it assigned King's Town Bank a long-term issuer default rating of BB+, short-term issuer default rating of B, national long-term rating of A-(twn) and national short-term rating of F1(twn).

The outlook is stable.

The ratings reflect the bank's reduced credit risk profile, satisfactory asset quality and adequate capitalization and liquidity, Fitch said.

The ratings are offset by weaknesses in profitability, small franchise and limited diversity in terms of geographic coverage and revenue mix, the agency said.

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