Fitch affirms Whitney Holding

Fitch Ratings said it affirmed Whitney Holding Corp.'s long-term and short-term issuer default rating at BBB and F2, respectively, and removed these from rating watch negative.

The outlook is negative.

The affirmation reflects Fitch's expectation that elevated pressure from loan losses will continue into 2010 and 2011, the agency said.

Nevertheless, Fitch said it believes the company has appropriately identified sources of problem loans and has an adequate procedure to quantify and reserve for potential losses.

© 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.