NYCB shares fall as much as 13% after Moody's cuts regional bank's credit rating to junk
Publishing timestamp: 2024-02-07 10:51:15
Summary
The article discusses how NYCB has promoted its chairman to stabilize the company's operations after Moody's Investors Service downgraded the bank's credit ratings to junk. The bank has experienced a significant decline in its market value and reported a surprise fourth-quarter loss. The downgrade raises concerns about the bank's management and its ability to handle financial and governance challenges. NYCB is searching for new executives in key positions and has issued unaudited financial information to boost confidence.
Sentiment: NEGATIVE
Tickers: NYCB,
Keywords: breaking news: markets, new york community bancorp inc, investment strategy, banks, breaking news: investing, new york, business news, breaking news: business, stock markets, business,