Moody’s Cuts NYCB Ratings to Junk, Warns of More Downgrades

A screen displays the trading information for New York Community Bancorp on the floor at the New York Stock Exchange (NYSE) in New York, on Jan. 31, 2024. Brendan McDermid/Reuters

Rating agency Moody’s downgraded New York Community Bancorp’s all long-term and some short-term issuer ratings to junk on Tuesday and warned of further downgrades.

The agency also downgraded all long-term and some short-term ratings and assessments of its lead bank, Flagstar Bank.