CHICAGO--(BUSINESS WIRE)--Fitch Ratings plans to withdraw the ratings on People's United Financial, Inc. and subsidiaries on or about Aug. 6, 2015, for commercial reasons.
Fitch currently rates People's United Financial, Inc. as follows:
People's United Financial, Inc.
--Long-term Issuer Default Rating (IDR) 'BBB+';
--Viability rating 'bbb+';
--Senior unsecured 'BBB+';
--Short-term IDR 'F2'.
People's United Bank
--Long-term IDR 'BBB+';
--Viability rating 'bbb+';
--Subordinated debt 'BBB';
--Long-term deposits 'A-';
--Short-term IDR 'F2';
--Short-term deposits 'F2'.
Chittenden Corporation
-Subordinated debt 'BBB'.
People's United Financial, Inc.
--Support '5';
--Support floor 'NF'.
People's United Bank
--Support '5';
--Support floor 'NF'.
Fitch reserves the right in its sole discretion to withdraw or maintain any rating at any time for any reason it deems sufficient. Fitch believes that investors benefit from increased rating coverage by Fitch and is providing approximately 30 days' notice to the market on the withdrawal. Ratings are subject to analytical review and change up to the time Fitch withdraws the ratings.
Fitch's last rating action for the above referenced entities was on Jan. 30, 2015. The ratings were downgraded with a Stable Outlook
Additional information is available at 'www.fitchratings.com'.
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