Fitch Ratings Expects to Rate Webster Financial Corporation's (WBS) Sr Note 'BBB'

Thu Feb 6, 2014 6:09pm EST

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(The following statement was released by the rating agency) NEW YORK, February 06 (Fitch) Fitch Ratings expects to assign a 'BBB' rating to Webster Financial Corporation's (WBS) senior note issuance. The $150 million senior note issuance matures Feb. 15, 2024. The notes have an interest rate of 4.375% and were priced to yield 4.474%. Webster expects to apply the net proceeds of the notes for general corporate purposes. KEY RATING DRIVERS - SENIOR DEBT The rating for WBS' senior note issuance is aligned with WBS' viability rating of 'bbb'. RATING SENSITIVITIES - IDRS, NATIONAL RATINGS AND SENIOR DEBT WBS' senior note rating is sensitive to changes in the viability rating of the company, which embodies the stand alone assessment of the institution. Fitch views changes in WBS's capital levels as a potential ratings driver for the viability rating. Please see the press release 'Fitch Affirms Webster Financial Corp's Ratings at 'BBB'/'F2' After Peer Review; Outlook Stable' issued Feb. 5, 2014 for further information on the ratings for Webster Financial. Contact: Primary Analyst Jaymin Berg, CPA Director +1-212-908-0368 Fitch Ratings, Inc. One State Street Plaza New York, NY 10004 Secondary Analyst Ryan Doyle Director +1-212-908-9162 Committee Chairperson Christopher Wolfe Managing Director +1-212-908-0771 Media Relations: Brian Bertsch, New York, Tel: +1 212-908-0549, Email: brian.bertsch@fitchratings.com. Additional information is available at 'www.fitchratings.com'. The issuer did not participate in the rating process, or provide additional information, beyond the issuer's available public disclosure. Applicable Criteria and Related Research: --Global Financial Institutions Rating Criteria (Jan. 31, 2014); --Assessing and Rating Bank Subordinated and Hybrid Securities (Jan. 31, 2014). Applicable Criteria and Related Research: Global Financial Institutions Rating Criteria here Assessing and Rating Bank Subordinated and Hybrid Securities Criteria here Additional Disclosure Solicitation Status here ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

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