Fitch affirms Whitney

Fitch Ratings said it affirmed Whitney Holding Corp.'s BBB+ long-term and F2 short-term issuer default ratings, B/C individual rating, 5 support rating and "No Floor" support floor. The agency also affirmed Whitney National Bank's subordinated debt at BBB.

The outlook is stable.

The agency said the ratings are supported by Whitney's sound core banking franchise, solid capital levels and adequate liquidity profile.

The ratings also reflect some weakness in profitability and asset quality metrics, the agency said, and nonperforming assets and net charge-offs have increased notably over the last 18 months.

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