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Fitch affirms New York Community Bancorp ratings

Fitch Ratings on March 23 affirmed New York Community Bancorp Inc. and subsidiaries New York Community Bank and New York Commercial Bank's long-term issuer default ratings of BBB+ and short-term IDRs of F2.

The rating agency revised the rating outlook to "negative" from "stable." The negative outlook reflects its views around New York Community Bancorp's ability to execute on management's desire to reposition its funding, and the resulting impact on the bank's financial flexibility relative to equally rated peers.

The ratings reflect New York Community Bancorp's demonstrated strong credit underwriting through multiple cycles, which has provided good asset quality and relative earnings stability through adverse credit environments, according to Fitch.

New York Community Bank and New York Commercial Bank's long- and short-term deposits were affirmed at A- and F2, respectively.