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S&P shifts Compeer view to positive
S&P said it changed its outlook for Compeer Financial ACA and affirmed the BBB+ issuer ratings of Compeer and its subsidiaries Compeer Financial PCA and Compeer Financial FLCA.
The agency noted Compeer generated loan growth of 23% from year-end 2019 to year-end 2021 but has kept its capital levels very strong, including a risk-adjusted capital ratio of 15.5% as of Dec. 31, 2021.
“The positive outlook on Compeer Financial ACA reflects our expectation that we could raise the rating in the next two years if the association continues its good financial performance while maintaining its conservative risk profile. In particular, we expect Compeer to maintain a very strong RAC ratio above 15%, stable asset quality metrics with low credit losses, and steady asset growth,” S&P said in a press release.
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