Fitch affirms Webster

Fitch Ratings said it affirmed the long- and short-term ratings of Webster Financial Corp. and its subsidiaries.

Webster Financial's long-term issuer default rating was affirmed at BBB, senior unsecured rating at BBB, viability rating at BBB, preferred stock rating at BB+ and short-term issuer default rating at F2.

Webster Bank, NA's long-term issuer default rating was affirmed at BBB, long-term deposits rating at BBB+, viability rating at BBB, subordinated debt rating at BBB-, short-term issuer default rating at F2 and short-term deposits rating at F2.

Webster Capital Trust IV and Webster Preferred Capital Corp.'s preferred stock rating was affirmed at BB+.

The outlook is stable.

The affirmation is supported by the bank's improving profitability trends, manageable credit losses and adequate regulatory capital ratios, Fitch said.

The ratings are constrained by elevated levels of non-performing assets and troubled debt restructurings, the agency said, as well as Webster's exposure to home equity loans.

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