New York Community's (NYCB) Ratings Bumped Up by Moody's [Yahoo! Finance]
Moody's Corporation (MCO)
Last moody's corporation earnings: 4/30 07:00 am
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Source: Yahoo! Finance
While Moody's lifted the bank's long-term issuer rating to B2 from B3, it is still five notches below investment grade. The outlook for the bank's rating was changed to positive. The capital raise will help increase NYCB's common equity tier 1 (CET1) capital ratio to 10.2% on a proforma basis, assuming the full conversion of preferred equity to common equity. Per the rating agency, the incremental capital will help the bank absorb credit losses on its commercial real estate portfolio and offer a source of liquidity that has been affected due to a decline in deposits. Another rationale for the credit rating upgrade was NYCB receiving an unqualified audit opinion on its 2023 ended financial statements. However, Moody noted, “At the same time, NYCB still faces a number of key decisions in its strategic development and in effectively addressing its fundamental challenges in governance, financial profile, risk management and internal controls.” In early February, NYCB's long-term
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MCO
Earnings
- 2/14/24 - Miss
MCO
Sec Filings
- 4/19/24 - Form 8-K
- 4/2/24 - Form 3
- 4/2/24 - Form 4
- MCO's page on the SEC website