Loading ...“Whatever It Takes” – NYCB Shares Drop After Chairman Reassures “Virtually” No Deposit Outflow From Branches
NYCB shares puked down to $3.50 overnight after Moody’s downgraded them to junk.
This morning, the beleaguered, CRE-heavy bank released a statement from Chief Executive Thomas Cangemi that:
“The Moody’s downgrade is not expected to have a material impact on our contractual arrangements.”