Fitch rates Webster convertibles BBB-

Fitch Ratings said it assigned a BBB- rating to Webster Financial Corp.'s $225 million 8.5% series A non-cumulative convertible perpetual preferred stock.

Proceeds will be used for general corporate purposes, to increase parent company liquidity and to provide additional capital.

The preferreds are convertible at any time into shares of common stock at a premium of about 22.5% to the closing price on June 5. On June 15, 2013, Webster will have the right under certain circumstances to force conversion.

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