KBRA Publishes Ratings for NewtekOne, Inc.
Key Highlights
- ➤Newtek receives BBB- senior unsecured, BB+ subordinated, and K3 short-term debt ratings
- ➤Newtek Bank receives BBB deposits and senior debt, BBB- subordinated, and K3 short-term ratings
- ➤KBRA assigns BBB- rating to Newtek’s $50 million 8.125% notes due February 2029
- ➤Newtek shifts toward retaining SBA 7(a) loans and growing recurring net interest income
- ➤Bank deposits exceed $2 billion as Newtek transitions toward deposit-funded banking
Expert Statements
Bain Rumohr, Managing Director and Lead Analyst at KBRA
“Newtek’s ratings are principally driven by strong current and expected earnings performance, reflective of appropriate loan pricing relative to customer credit risk, reasonable gain-on-sale margins on SBA products, solid fee revenue to the company’s payments processing business, and the company’s efficient operation which is supported by high use of technology in the underwriting and portfolio management.”
KBRA publishes the senior unsecured debt rating of BBB-, the subordinated debt rating of BB+, and the short-term debt rating of K3 for NewtekOne, Inc. (NASDAQ: NEWT) (“Newtek” or “the company”). Additionally, KBRA publishes the deposit and senior unsecured debt ratings of BBB, the subordinated debt rating of BBB-, and the short-term deposit and debt ratings of K3 for lead bank subsidiary, Newtek Bank, N.A. (“the bank”). The Outlook for all long-term ratings is Stable. These ratings were assigned on an unpublished basis on May 14, 2026.
Concurrently, KBRA assigns a rating of BBB- to Newtek's $50 million of 8.125% senior unsecured notes maturing February 2029.
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