KBRA Publishes Ratings for NewtekOne, Inc.
KBRA published ratings for NewtekOne: BBB- senior unsecured debt, BB+ subordinated debt, and K3 short-term at the holding company, with BBB deposit/senior ratings at Newtek Bank — all with a Stable outlook, on an unpublished basis since May 14, 2026. KBRA credits strong earnings (ROA ~2.0%-3.5%, above rated peers), ~18% consolidated CET1, and a shift toward deposit-funded, retained SBA 7(a) lending; it also rated the $50 million 8.125% notes maturing February 2029 at BBB-.
Key figures
- Deal Value Usd
- 50000000
- Deposits
- $2 billion+
- Nco bank
- ~2%
- Acl ratio
- ~2.8% of loans
- Cet1 bank
- ~11.5% (2Q26)
- Npas bank
- ~3%-4%
- Roa range
- ~2.0%-3.5%
- Npas holdco
- ~9%
- Notes coupon
- 8.125%
- Notes maturity
- February 2029
- Double leverage
- nearly 200%
- Cet1 consolidated
- ~18%
- Short term rating
- K3
- Securitizations issued
- 17
- Subordinated debt rating
- BB+
- Senior unsecured debt rating
- BBB-
- Bank deposit senior debt rating
- BBB
AI analysis
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