Fitch affirms Webster

Fitch Ratings said it affirmed its ratings for Webster Financial Corp. and Webster Bank, NA, including the long-term issuer default rating and short-term issuer default rating at BBB and F2, respectively.

At the same time, Fitch said it has revised the outlook to stable from positive.

The agency said that Webster Financial has announced an expected $62.4 million charge for fourth quarter 2007, which included a special provision expense of $40 million associated with their broker originated home equity portfolio and out-of-footprint residential construction lending portfolio, which totaled $340.7 million and $83.3 million, respectively, at Dec. 31.

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