Kroll Bond Rating Agency Affirms Senior Unsecured Long-Term Rating of BBB+ and Short-Term Debt Rating of K2 for People’s United Financial, Inc.

NEW YORK--()--Kroll Bond Rating Agency (“KBRA”) has affirmed the senior unsecured debt rating of BBB+ and the short-term rating of K2 for People’s United Financial, Inc. (NASDAQ:PBCT) (“People’s United” or “PBCT”), a thrift holding company headquartered in Bridgeport, CT. In addition, KBRA affirms the senior deposit rating of A- and the short-term rating of K1 for People’s United Financial, Inc.’s subsidiary, People’s United Bank (the “Thrift”). The outlook on all ratings is stable.

The ratings are supported by People’s United Bank’s sound financial fundamentals, as evidenced by its adequate capital position and trending improvements over the last two years in terms of asset quality. The ratings also reflect potential pressure People’s United may encounter in a state of continued challenging macroeconomic conditions throughout the U.S., as well as the organization’s future growth prospects.

The ratings are based on KBRA’s Global Bank and Bank Holding Company Rating Methodology, published on May 2, 2013.

Ratings

Entity

  Type   Rating   Outlook
People’s United Financial, Inc.   Senior Unsecured   BBB+   Stable
    Short-Term   K2   Stable
People’s United Bank   Senior Deposit   A-   Stable
    Short-Term   K1   Stable
     

About Kroll Bond Rating Agency

KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).

Contacts

Kroll Bond Rating Agency
Analytical Contacts:
Ashley Phillips, 240-394-4150
Associate
aphillips@kbra.com
or
Marjan Riggi, 646-731-2354
Managing Director
mriggi@kbra.com
or
Christopher Whalen, 646-731-2366
Senior Managing Director
cwhalen@kbra.com
or
Follow us on Twitter!
@KrollBondRating

Contacts

Kroll Bond Rating Agency
Analytical Contacts:
Ashley Phillips, 240-394-4150
Associate
aphillips@kbra.com
or
Marjan Riggi, 646-731-2354
Managing Director
mriggi@kbra.com
or
Christopher Whalen, 646-731-2366
Senior Managing Director
cwhalen@kbra.com
or
Follow us on Twitter!
@KrollBondRating