Breaking News Bar

Business News and Information

Kroll Bond Rating Agency Releases Comment on Univest Corporation of Pennsylvania’s Merger with Fox Chase Bancorp, Inc.

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).

Contacts:

Kroll Bond Rating Agency
Analytical:
Ben Stewart, 240-394-4145
Associate
bstewart@kbra.com
or
Joseph Scott, 646-731-2438
Senior Director
jscott@kbra.com
or
Christopher Whalen, 646-731-2366
Senior Managing Director
cwhalen@kbra.com
or
Follow us on Twitter!
@KrollBondRating

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
bottom clear