Moody's places Webster's ratings (long-term issuer Baa1) on review for downgrade following merger announcement
Rating Action: Moody's places Webster's ratings on review for downgrade following merger announcement. Global Credit Research- 20 Apr 2021. New York, April 20, 2021-- Moody's Investors Service, has placed on review for downgrade all the ratings and assessments of Webster Financial Corporation and Webster Bank, N.A, including its a3 standalone Baseline Credit Assessment with the exception of the Prime-1 short-term deposit rating and the Prime-2 short-term counterparty risk...
Webster Financial is a bank holding company and financial holding company. The company, through its subsidiary, Webster Bank, National Association, delivers banking, investment, and financial services. The company provides mortgage lending, financial planning, trust, and investment services through banking centers, ATMs, a customer care center, and a range of web and mobile-based banking services. The company also provides equipment financing, commercial real estate lending, asset-based lending, and treasury and payment solutions primarily in the eastern United States. The company provides health savings accounts, while also delivers health reimbursement arrangements, and commuter benefit account administration services.
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