Fitch: AmeriServe view negative

Fitch Ratings said it affirmed the long-term issuer default rating at BB and short-term issuer default rating at B on AmeriServ Financial Inc., along with AmeriServ Financial Bank's long-term issuer default rating at BB, long-term deposits at BB+, short-term issuer default rating at B and short-term deposits rating at B.

The outlook has been revised to negative from stable.

The ratings are indicative of the company's ample capital levels, low credit costs, robust reserve coverage and sufficient liquidity, Fitch said.

While earnings have been constrained by higher provisions and elevated operating expenses, a relatively strong net interest margin and steady deposit growth continue to support the company's overall financial performance, the agency said.

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