NEW YORK (Standard&Poor's) Aug. 28, 2012--Standard&Poor's Ratings Services today said its ratings on M&T Bank Corp. (A-/Stable/A-2) are unaffected by the bank's agreement to purchase Hudson City Bancorp (unrated) for approximately $3.7 billion. The bank expects the acquisition to close by April 1, 2013, pending regulatory approval. In our view, the positive aspects of the acquisition, including sustained higher risk-adjusted capital (RAC) ratios, more than offset execution risk. The acquisition will broaden M&T's retail footprint in the New York City metropolitan area (NYC). Hudson City's 135 branches are located primarily in New Jersey, an affluent market where M&T has not had a retail presence. This will link M&T's Northeastern and Mid-Atlantic retail franchises, which stretch from
