Home » NEWS » Banking & Finance » Hancock's ratings downgraded following merger

Hancock's ratings downgraded following merger

GULFPORT — Moody’s Investors Service has downgraded the long- and short-term financial ratings of Hancock Holding Co. following its acquisition of Whitney Holding Corp.

Moody’s said June 7 the ratings outlook for Gulfport-based Hancock is stable. Hancock was put under review when it announced the deal to acquire Whitney Dec. 22.

Moody’s says it took the action because Whitney is a “comparatively large and troubled bank” that has lost money over the past two years. Moody’s also said Hancock may find it difficult to manage the integration of the two companies, particularly in bringing its credit culture into the Whitney franchise.

But Moody’s also says that Hancock’s capital position should be sufficient to absorb any credit losses.

Source: AP


… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Megan Wright

Leave a Reply

Your email address will not be published. Required fields are marked *