Fitch Expects to Rate Wintrust's Subordinated Notes 'BBB-'

CHICAGO--()--Fitch Ratings expects to rate Wintrust Financial Corporation's (WTFC) subordinated debt issuance 'BBB-' pending the receipt of final documentation. The company announced today, June 9, that it has commenced an underwritten public offering of subordinated notes under its effective shelf registration statement. The subordinated notes are expected to have a 10 year tenure and will not be callable prior to maturity

KEY RATING DRIVERS - Subordinated debt

In accordance with Fitch's criteria, subordinated debt is notched down from the issuing entity's Viability Rating (VR) to reflect the loss severity of the subordinated debt relative to the average recoveries assumed for a typical bank senior debt instrument.

RATING SENSITIVITIES - Subordinated debt

WTFC's subordinated debt rating is sensitive to any change in its VR.

Proceeds of the offering are intended for general corporate purposes, which may include, without limitation, investments at the holding company level, providing capital to support growth, acquisitions or other business combinations, including FDIC-assisted acquisitions, and reducing or refinancing existing debt.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Global Financial Institutions Rating Criteria (Jan. 31, 2014);

--'Assessing and Rating Bank Subordinated and Hybrid Securities Criteria' (Jan. 31, 2014);

--'Rating FI Subsidiaries and Holding Companies' (Aug. 10, 2013).

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

Rating FI Subsidiaries and Holding Companies

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679209

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=833655

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Contacts

Fitch Ratings
Contact
Primary Analyst
Bain K. Rumohr, CFA
Director
+1-312-368-3153
Fitch Ratings, Inc.
70 W. Madison St.
Chicago, IL 60602
or
Secondary Analyst
Julie Solar
Senior Director
+1-312-368-5472
or
Media Relations
Brian Bertsch, New York, +1-212-908-0549
brian.bertsch@fitchratings.com

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Contacts

Fitch Ratings
Contact
Primary Analyst
Bain K. Rumohr, CFA
Director
+1-312-368-3153
Fitch Ratings, Inc.
70 W. Madison St.
Chicago, IL 60602
or
Secondary Analyst
Julie Solar
Senior Director
+1-312-368-5472
or
Media Relations
Brian Bertsch, New York, +1-212-908-0549
brian.bertsch@fitchratings.com