Kroll Bond Rating Agency (KBRA) released a comment on Univest Corporation of Pennsylvania’s impending acquisition of Fox Chase Bancorp, Inc. The comment makes the following key points:
- Univest Corporation of Pennsylvania (NASDAQ: UVSP, “Univest”)and Fox Chase Bancorp, Inc. (NASDAQ: FXCB, “Fox Chase”), have announced an agreement whereby Univest will acquire Fox Chase and its subsidiary bank, Fox Chase Bank.
- The transaction valued at $244.3 million, will increase Univest’s total assets by approximately 39% and will increase its lending portfolio by 36%.
- These events are neutral to Univest Corporation of Pennsylvania’s and Univest Bank and Trust Company’s ratings. On March 19, 2015, KBRA assigned an unsecured debt rating of BBB+, subordinated debt rating of BBB, and a short-term rating of K2 to Univest. The outlook on all ratings is stable.
To view the report, please use the following link: https://www.krollbondratings.com/show_report/3483
About Kroll Bond Rating Agency
KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).
Ben Stewart, 240-394-4145
Joseph Scott, 646-731-2438
Christopher Whalen, 646-731-2366
Senior Managing Director
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