Kroll Bond Rating Agency affirmed the senior unsecured debt rating of A-, subordinated debt rating of BBB+ and short-term debt rating of K2 for WSFS Financial Corp.
The rating agency also affirmed the senior unsecured debt and deposit ratings of A, subordinated debt rating of A-, and short-term debt and deposit ratings of K1 for Wilmington Savings Fund Society FSB, the company's lead subsidiary bank.
The outlook for all long-term ratings is stable.
Among the factors supporting the ratings are WSFS Financial's stable fee revenue base derived from diversified business segments, and the company's reasonably strong market share positioning within its operating footprint. Kroll considers the integration risk associated with the acquisition of Beneficial Bancorp Inc. as ongoing through the medium term but noted WSFS Financial's successful track record in M&A.
