Fitch axes, pulls Signature Bank

Fitch Ratings said it downgraded Signature Bank's long-term issuer default rating to D from BBB+ following its closure by the New York State Department of Financial Services. All assets and deposits have been transferred to Signature Bridge Bank NA, a full-service bank operated by the FDIC.

“Fitch Ratings is subsequently withdrawing the ratings of Signature Bank as the bank is under regulatory supervision. Accordingly, Fitch Ratings will no longer provide ratings or analytical coverage for Signature Bank,” the agency said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.