Morningstar DBRS assigned first time ratings to WSFS Financial with a long-term issuer rating of “A (low).” At the same time, Morningstar DBRS assigned a long-term issuer rating of “A” to WSFS Bank. The trends on all credit ratings are stable. The intrinsic assessment (IA) for the bank is “A,” while its support assessment is SA1. The company’s support assessment is SA3, and the long-term issuer rating is positioned one notch below the bank’s IA.
“WSFS is pleased to add another strong debt rating of ‘A (low)’ from Morningstar DBRS to complement our existing investment-grade ratings from Moody’s and Kroll,” David Burg, executive vice president and chief financial officer of WSFS, said. “This rating provides another validation of our strong balance sheet, capital, and liquidity profile, and will support our continued growth as well as new revenue opportunities within our Wealth and Trust business.”
