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Rockland Trust Company Parent Upgraded to aBBBa? by Fitch Ratings

^{Published on 2011-07-12 11:00:36 - Market Wire}
 

ROCKLAND, Mass.--([ BUSINESS WIRE ])--Independent Bank Corp. (NASDAQ: INDB), parent of Rockland Trust Company, today announced that its long-term issuer default rating (IDR) has been upgraded to 'BBB' from 'BBB-'. Fitch Ratings cited several factors that caused the firm to take its rating action, including the banka™s solid financial performance through the economic downturn, overall quality of assets, low credit costs, consistent earnings and strong core funding base.

"Fitcha™s upgrade of Independent Bank Corp.a™s rating to aBBBa™ affirms our outstanding asset quality, continued strong earnings, and capital growth, in the face of a challenging economic climate"

aFitcha™s upgrade of Independent Bank Corp.a™s rating to aBBBa™ affirms our outstanding asset quality, continued strong earnings, and capital growth, in the face of a challenging economic climate,a said the banka™s Chief Executive Officer, Christopher Oddleifson.

Fitch reported a stable outlook for Independent Bank Corp., which echoes the firma™s view that the banka™s financial performance will remain favorable at the new rating level.

For Fitch Ratingsa™ full press release, please visit: [ http://www.businesswire.com/news/home/20110707006690/en/Fitch-Upgrades-Independent-Bank-Corp.s-IDR-BBB ].

About Rockland Trust

Rockland Trust Company is a full-service community bank headquartered in Massachusetts, with approximately $4.8 billion in assets. Rockland Trust provides a wide range of consumer, business, investment, and insurance products and services. Rockland Trusta™s network consists of 67 retail branches, eight commercial lending centers, four mortgage banking centers, and four Investment Management Group offices located throughout Eastern Massachusetts. To find out why Rockland Trust is the bank aWhere Each Relationship Matters®a, please visit [ www.RocklandTrust.com ].