S&P shifts Bank of N.T. Butterfield view to stable

S&P said it revised its outlook to stable from positive and affirmed its BBB+ long--term issuer credit ratings on Bank of N.T. Butterfield & Son Ltd.

“We are revising our outlook to stable from positive on BNTB in alignment with our updated view on its banking industry macro fundamentals (as reflected in our BICRA economic risk trend). The outlook revision reflects our expectation that the bank's operating performance will likely deteriorate from the impact of a weaker economy due to Covid-19 and lower interest rates,” said S&P 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.