S&P rates Hancock Holding notes BBB

Standard & Poor’s said it assigned its BBB issue rating on Hancock Holding Co.’s $150 million 30-year subordinated debt issuance.

“Our rating on Hancock reflects the bank’s conservative management team and solid core funding. Its somewhat-limited diversity given its five-state Gulf footprint (Texas, Louisiana, Mississippi, Alabama, and Florida) somewhat offsets these strengths, particularly given the company’s high exposure to energy-related loans and economies,” S&P said in a news release.

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