The ratings of Independent Bank Corp. have not been affected following its recently announced acquisiton of Benjamin Franklin Bank.

New York-based Fitch Ratings has affirmed the long- and short-term Issuer Default Ratings (IDRs) for Independent Bank Corp. and its banking subsidiary, Rockland Trust Co. at 'BBB-/F3'.

The rating outlook remains stable, according to Fitch.

The affirmation follows Independent Bank Corp.’s recent acquisition of Franklin-based Benjamin Franklin Bancorp for $125 million, in a 100 percent stock deal. The acquisition, which is expected to close during the second quarter of 2009, will add approximately $981 million in assets and 11 branches, significantly expanding INDB's greater Boston market franchise.