DBRS: Astoria Financial unchanged

DBRS commented on the 1Q10 results of Astoria Financial Corp., stating that the issuer & senior debt rating of BBB are unaffected.

The trend remains stable.

According to DBRS, aided by its widening interest margin, stabilizing credit costs and relatively flat expenses, Astoria generated improved results in 1Q10, even as it coped with still high unemployment and a strained housing market.

Astoria's 1Q10 earnings increased to $12.9 million, from $8.1 million for the prior quarter and $8.8 million for 1Q09, the agency said.

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