OREANDA-NEWS. June 30, 2015. Fitch Ratings has assigned a 'B+' rating to Wintrust Financial Corp.'s (WTFC) \\$125 million series D non-cumulative perpetual preferred stock issuance.

Dividends will be payable at a fixed rate of 6.50% per annum from the original issue date to, but excluding, July 15 , 2025 and thereafter at a floating rate of three-month LIBOR plus a spread of 4.06% per annum. The proceeds will be used for general corporate purposes, which may include, investments at the holding company level, providing capital to support growth, acquisitions or other business combinations, including FDIC-assisted acquisitions and reducing or refinancing existing debt.

KEY RATING DRIVERS

SUBORDINATED DEBT AND OTHER HYBRID SECURITIES
The hybrid instrument is expected to be rated five notches lower than WTFC's Viability rating of 'bbb' in accordance with Fitch's 'Global Bank Rating Criteria' dated March 20, 2015. The preferred stock rating includes two notches for loss severity given these securities' deep subordination in the capital structure, and three notches for non-performance given that the coupon of the securities is non-cumulative and fully discretionary.

RATING SENSITIVITIES

SUBORDINATED DEBT AND OTHER HYBRID SECURITIES
WTFC's preferred issuances are sensitive to changes in its VR, and would move in tandem with any changes to its VR. For more information, please see WTFC's most recent press release dated Jan. 30, 2015.

Fitch has assigned the following rating:

Wintrust Financial Corp.
--Non-cumulative preferred stock 'B+'.