Moody's continues the review for upgrade of People's United (long-term senior unsecured Baa2) as pending merger with M&T Bank Corporation (long-term senior unsecured A3) progresses
Announcement: Moody's continues the review for upgrade of People's United as pending merger with M&T Bank Corporation progresses. Global Credit Research- 07 Jun 2021. New York, June 07, 2021-- Moody's Investors Service, said today that the review for upgrade of People's United Financial Inc. continues as the pending merger with M&T Bank Corporation progresses.
People's United Financial is a bank holding company and a financial holding company. The principal business of the company is to provide, through its subsidiary, People's United Bank, National Association and its subsidiaries, commercial banking, retail banking and wealth management services to individual, corporate and municipal customers. The company's segments are: Commercial Banking; which consists of commercial real estate lending, commercial and industrial lending, and commercial deposit gathering activities; and Retail Banking, which includes, as its principal business lines, consumer lending (including residential mortgage and home equity lending) and consumer deposit gathering activities.
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