Moody's on May 17 affirmed the ratings of Waterbury, Conn.-based Webster Financial Corp. and unit Webster Bank NA, reflecting Webster's sustainable business model and the rating agency's view that it will maintain its overall good credit metrics.
Affirmed were the company's Baa1 issuer and senior unsecured regular bond/debenture ratings, as well as its Baa3 noncumulative preferred stock rating.
The rating agency affirmed the bank's "a3" baseline credit assessment and adjusted baseline credit assessment ratings, A2(cr) long-term counterparty risk assessment rating, P-1(cr) short-term counterparty risk assessment rating, A1 long-term deposit rating, P-1 short-term deposit rating and Baa1 issuer rating.
The outlook is stable.
Moody's also assigned prospective ratings to the company's shelf registration; the shelf was rated (P)Baa1 for senior unsecured, (P)Baa1 for subordinate, (P)Baa2 for cumulative preferred stock and (P)Baa3 for noncumulative preferred stock.
