New York Community Bancorp (NYCB) Cut to Junk at Moody's

New York Community Bancorp (NYSE: NYCB) credit rating lowered to Junk by Moody's agency, representing a two notch cut.

• The bank is facing “multifaceted” financial risks and governance challenges, Moody’s wrote.
• The ratings firm said it's open to further cuts should conditions deteriorate.

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