NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has assigned senior unsecured and subordinated debt ratings to Wilmington, Delaware based WSFS Financial Corporation (NASDAQ:WSFS) (“WSFS”), and its subsidiary bank, Wilmington Savings Fund Society, FSB based on KBRA’s Global Bank and Bank Holding Company Rating Methodology published on January 28, 2015. The outlook on all long-term ratings is stable.
KBRA’s senior unsecured debt rating of A- and subordinated debt rating of BBB+ for WSFS are supported by WSFS’ seasoned management team and robust enterprise risk management as well as superior asset quality metrics. Additionally, the Company’s performance during the financial crisis, strong earnings, and ability to derive a significant proportion of its revenue from stable noninterest income underpin the ratings. The ratings are constrained by the Company’s limited geographic reach and recent appetite for acquisitions, although the acquisitions have been disciplined and strategic.
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