02/07/2024 – 15:36
New York Community Bancorp (NYCB) sought to reassure investors about the downgrade of its credit rating by Moody's, in a financial information update published late Tuesday night, 6. “Moody's downgrade is not expected to have a material impact on our contractual agreements,” CEO Thomas Cangemi said in the statement.
“Despite Moody's ratings downgrade, our Moody's, Fitch and DBRS deposit ratings remain at investment grade,” Cangemi added.
The note also states that the bank is in the process of bringing in a new executive head of Risk and an executive head of Audit, as part of efforts to improve its risk management processes.
NYCB said it currently has qualified employees filling these positions on an interim basis.
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