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

NEW YORK--()--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.

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

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=732397

Assessing and Rating Bank Subordinated and Hybrid Securities Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=732137

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=819878

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Contacts

Fitch Ratings
Primary Analyst:
Jaymin Berg, CPA, +1-212-908-0368
Director
Fitch Ratings, Inc.
One State Street Plaza
New York, NY 10004
or
Secondary Analyst:
Ryan Doyle, +1-212-908-9162
Director
or
Committee Chairperson:
Christopher Wolfe, +1-212-908-0771
Managing Director
or
Media Relations:
Brian Bertsch, New York, +1 212-908-0549
brian.bertsch@fitchratings.com

Sharing

Contacts

Fitch Ratings
Primary Analyst:
Jaymin Berg, CPA, +1-212-908-0368
Director
Fitch Ratings, Inc.
One State Street Plaza
New York, NY 10004
or
Secondary Analyst:
Ryan Doyle, +1-212-908-9162
Director
or
Committee Chairperson:
Christopher Wolfe, +1-212-908-0771
Managing Director
or
Media Relations:
Brian Bertsch, New York, +1 212-908-0549
brian.bertsch@fitchratings.com