S&P rates First Commonwealth BBB-

S&P said it assigned a BBB- long-term issuer credit rating to First Commonwealth Financial Corp. and a BBB long-term issuer credit rating to First Commonwealth Bank.

The outlooks are stable.

The agency said the rating on First Commonwealth Financial reflects the company's moderate loan growth profile in its footprint, capital ratios that are adequate by S&P’s measure, a well-managed credit portfolio with good asset-quality performance and funding ratios that are in line with U.S. regional bank peers.

Offsetting factors include a footprint that is relatively concentrated in Pennsylvania with recent expansion into Ohio and some potential integration risks resulting from recent acquisitions, S&P said.

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