NEW YORK -- Standard & Poor's Corp. assigned a B rating to the $50 million increasing-rate, redeemable, cumulative preferred stock of First Banks Inc., Creve Coeur, Mo.

S&P said the rating reflected the holding company's relatively low asset risk and strong consolidated liquidity. The strengths were somewhat offset, however, by an aggressive strategy of acquisitions financed with bank debt.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.