According to CCTV News, on February 6th local time, according to CNN, international rating agency Moody's Investor Services announced a downgrade of the credit rating of New York Community Bank to "junk" due to concerns about the "challenges" the bank is currently facing.
It is reported that New York Community Bank announced last week that the bank experienced unexpected losses in its exposure to the commercial real estate market. The report suggests that a credit rating downgrade may further increase the bank's borrowing costs.