Fitch affirms People's United

Fitch Ratings said it affirmed the ratings of People's United Financial and its subsidiaries following the announcement of People's United's acquisition of Financial Federal Corp. for $738 million in a stock and cash transaction.

The outlook for People's United remains stable.

Fitch said that from Financial Federal's perspective the acquisition is viewed favorably.

The transaction is expected to close in the first quarter of 2010. Once the transaction closes, Fitch expects to upgrade Financial Federal to the same level as People's United.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.