Moody's changes NYCB's rating review from 'downgrade' to 'upgrade' after $1B capital raise and CEO appointment.
Ratings agency Moody's changes NY Community Bancorp (NYCB)'s rating review from "review for downgrade" to "review for upgrade" following a $1B capital raise announcement and appointment of Joseph Otting as CEO. Capital raise is expected to boost NYCB's CET1 ratio to 10.3% from 9.2%. Moody's suggests the bank may need to increase credit loss provisions but sees potential for franchise stability and improved creditworthiness.
March 08, 2024
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