Moody’s Reaffirms WSFS Financial Corp’s Baa2 Issuer Rating with a Positive Outlook; Reflects Diversified Business Model, Strong Capital, and Earnings Strength
Moody’s Investors Service has reaffirmed their ratings to WSFS Financial Corporation (NASDAQ: WSFS) (“WSFS” or “the Company”) and WSFS Bank with issuer ratings of Baa2 and revised outlook to positive from stable. The change in outlook was driven by improved credit, sustained earnings and continued balance sheet strength, underscoring the resilience of the franchise and financial performance. Long-and short-term deposits of A2/Prime-1, together with a standalone Baseline Credit Assessment of baa1. Moody’s has also assigned Counterparty Risk Assessment of A3(cr)/Prime-2(cr) and Counterparty Risk Ratings (local and foreign currency) of Baa1/Prime-2.
Moody’s debt ratings for WSFS can be accessed here.
“Moody’s affirmation of our Baa2 investment-grade rating and its decision to revise our outlook to positive from stable reflects the strength of our diversified business model, disciplined risk management, and resilient balance sheet. We have continued to deliver strong financial performance while maintaining solid capital levels, a robust liquidity profile, and low reliance on wholesale funding. We believe the positive outlook underscores our continued momentum and long-term financial strength,” said David Burg, Executive Vice President and Chief Financial Officer, WSFS.
