NYCB’s Problems Worsen With a Moody’s Downgrade to Junk. The Stock Is Sinking.

New York Community Bancorp's stock is sinking.

image credits by Google

NYCB's problems are worsening with a Moody's Downgrade

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As on late Tuesday, Moody's Downgrade NYCB's debt to junk.

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NYCB's shares hit to the lowest since 1997.

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On Wednesday, in premarket trading NYCB stock was up 5% to $4.40.

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The bank's problems from its booked wider than expected loan losses.

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Bank's loans on commercial real estate, where values have suffered from higher interest rates.

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Moody's said that NYCB facing risk management and governance challenges.

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Due to bank's commercial real estate lending, the rating agency noted that confidence in NYCB has been wavering.

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On Wednesday, NYCB filed a release with S&E Commission that bank doesn't expect the Moody's Downgrade

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To have "a material impact" on contractual arrangements.

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There are many concerns as not only NYCB is struggling but other U.S banks also struggling

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