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Fitch Plans to Withdraw Ratings of People's United Financial, Inc. and Subsidiaries
July 6, 2015 / 9:11 PM / 2 years ago

Fitch Plans to Withdraw Ratings of People's United Financial, Inc. and Subsidiaries

(The following statement was released by the rating agency) CHICAGO, July 06 (Fitch) 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 Contact: Daniel Whalen Senior Director +1-312-368-2067Fitch Ratings, Inc. 70 West Madison Street Chicago IL 60602 Media Relations: Alyssa Castelli, New York, Tel: +1 (212) 908 0540, Email: alyssa.castelli@fitchratings.com. Additional information is available at 'www.fitchratings.com'. ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

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