OceanFirst Financial Corp. and its subsidiary, OceanFirst Bank N.A., announced they have received first-time investment grade ratings from Moody's Ratings. This recognition places OceanFirst among a select group of U.S. banks, with Chairman and Chief Executive Officer Christopher D. Maher noting that only 1% of all U.S. banks have been acknowledged by Moody's with an Investment Grade rating.
In addition to the overall investment grade rating, OceanFirst also secured long- and short-term deposit ratings of A3/Prime-2. These ratings are a reflection of the continued strength and stability of OceanFirst's financial position. The company has also maintained investment grade ratings from Kroll Bond Rating Agency since 2016.
The new ratings from Moody's are significant for OceanFirst as they can enhance investor confidence and potentially lead to more favorable funding costs. This recognition underscores the company's robust balance sheet and prudent financial management, reinforcing its standing in the financial sector.
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