Fitch ups WTB Financial

Fitch Ratings said it upgraded WTB Financial Corp. and subsidiary Washington Trust Bank's long-term issuer default ratings to BBB+ from BBB and short-term issuer default ratings to F2 from F3. The companies also have ratings of individual B/C, support 5 and support no floor.

The outlook is stable.

The upgrade reflects WTB Financial's improved profitability, strong commercial banking franchise in the Pacific Northwest, solid balance sheet fundamentals and a conservative credit culture, according to S&P.

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