Fitch Upgrades Emigrant Bancorp's Ratings to 'BB'; Outlook Stable

April 7, 2015 6:48 PM

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(The following statement was released by the rating agency) NEW YORK, April 07 (Fitch) Fitch Ratings upgraded the Issuer Default Ratings (IDR) for Emigrant Bancorp (EMIG) to 'BB' from 'BB-'.

The Rating Outlook remains Stable. Fitch reviewed EMIG as part of its Niche Bank Peer Review, which also includes Astoria Financial Corporation, Inc., Dime Community Bancshares, Inc. and New York Community Bancorp, Inc. Niche banks are defined by their narrow business models, limited deposit franchi...

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