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DBRS: Webster trend negative
DBRS said that following the Q4 2009 results of Webster Financial Corp., it rates the company's issuer and senior debt at BBB with a negative trend.
Webster reported a net loss attributable to common shareholders of $54 million for the quarter, down from a net loss of $26 million for the prior quarter, the agency noted.
On a sequential quarter basis, the higher net loss reflected $34 million of non-recurrent imputed dividends related to Warburg Pincus investments and convertible preferred exchanges completed during the quarter, the agency added.
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