Core Viewpoint - First BanCorp. has received strong credit ratings and a stable outlook from Kroll Bond Rating Agency, reflecting its solid financial position and disciplined risk management [1][4]. Group 1: Financial Performance - First BanCorp. has maintained steady performance through various economic cycles, preserving healthy margins and managing costs effectively [2]. - The bank's consistent profitability and solid capital levels have been highlighted as key strengths [1][2]. Group 2: Risk Management - Lessons learned from past downturns have led to a more resilient credit culture, resulting in lower nonperforming assets and improved loan quality [3]. - Enhanced risk practices have positioned First BanCorp. favorably against major competitors in Puerto Rico [3]. Group 3: Credit Ratings - KBRA assigned First BanCorp. a senior unsecured debt rating of BBB, a subordinated debt rating of BBB, and a short-term debt rating of K3 [4]. - For FirstBank Puerto Rico, deposit and senior unsecured debt ratings were set at BBB+ and short-term deposit and debt ratings at K2 [4]. Group 4: Strategic Direction - The ratings reaffirm First BanCorp.'s strategic direction and the strength of its franchise in Puerto Rico [5]. - The company emphasizes maintaining a strong capital position while pursuing prudent growth as central to its long-term plans [5].

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