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Moody’s alters Signature Bank view to stable
Moody’s Investors Service said it changed Signature Bank’s outlook to stable from negative.
The agency cited the improved outlook for Signature Bank's asset quality.
“Its loans with full payment deferrals have declined to 0.5% of loans as of Sept. 30, 2021, from a peak of 24.5% as of June 30, 2020. Additionally, the economic recovery in its metropolitan New York market should uphold the bank's historically strong asset quality performance,” Moody’s said in a press release.
The agency also affirmed Signature’s subordinated bond rating at Baa2 and its preferred stock rating at Ba1 (hyb).
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