Moody's on Jan. 5 affirmed the long- and short-term ratings and assessments of SVB Financial Group and of its unit, Silicon Valley Bank, following the announcement that the company agreed to acquire Boston Private Financial Holdings Inc. in a cash-and-stock transaction.

Among the ratings that Moody's affirmed were the A3 long-term issuer ratings of the company and the bank. The rating agency also affirmed SVB Financial Group's A3 long-term senior unsecured rating and Silicon Valley Bank's Aa3 long-term deposit rating.

The ratings outlook remains stable.

In Moody's view, the acquisition will not "materially" change SVB Financial Group's "comparatively strong" credit profile. The rating agency noted that the transaction is relatively small at 10% of the company's total assets as of Sept. 30, 2020, but it will "modestly" lower SVB Financial Group's capital and liquidity ratios and does present "modest" operational and integration risks.