Fitch affirms W.T.B.

Fitch Ratings said it affirmed W.T.B. Financial Corp.'s long-term and short-term issuer default ratings at BBB+ and F2, respectively.

The ratings have been removed from rating watch negative and assigned a negative outlook, the agency added.

According to the agency, the affirmation of W.T.B.'s ratings reflects Fitch's expectation that pressure from loan losses will continue into 2010; however, the level of losses experienced in 2009 would likely not be repeated.

Affected ratings include:

• W.T.B.'s long-term issuer default rating at BBB+; short-term issuer default rating at F2; individual at B/C; preferred stock at BBB-; support at 5; and support floor at NF; and

• Washington Trust Bank's long-term issuer default rating at BBB+; long-term deposits at A-; short-term issuer default rating at F2; short- term deposits at F2; individual at B/C; support at 5; and support floor at NF.

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