WILMINGTON, DE — Morningstar DBRS has assigned WSFS Financial Corporation (NASDAQ: WSFS) a first-time Long-Term Issuer Rating of “A (low)”, while its subsidiary, WSFS Bank, received a stronger “A” rating. All ratings carry a Stable outlook.
The Intrinsic Assessment (IA) for WSFS Bank was rated “A”, supported by solid capital, a stable deposit base, and diversified fee income. The bank’s Support Assessment was designated SA1, reflecting minimal expectation of external support. WSFS Financial’s Support Assessment was SA3, placing its long-term issuer rating one notch below the bank’s IA.
Executive Vice President and CFO David Burg said the rating reflects the company’s strong capital and liquidity foundation and will help drive further growth in its Wealth and Trust business. WSFS now holds investment-grade ratings from Morningstar DBRS, Moody’s, and Kroll.
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