Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Bangkok Post
Bangkok Post
Business

Fitch downgrades and withdraws Signature Bank's ratings

A person walks into a Signature Bank branch in New York City on March 13. (Reuters photo)

Rating agency Fitch on Monday downgraded Signature Bank's long-term corporate ratings to 'D' from 'BBB+' after state regulators closed the New York-based bank on Sunday.

Signature Bank's short-term corporate ratings were also downgraded to 'D' from 'F2', Fitch said, adding that all assets and deposits have transferred to Signature Bridge Bank, a successor bank operated by the FDIC.

"Fitch Ratings is subsequently withdrawing the ratings of Signature Bank as the bank is under regulatory supervision," it said in a statement on Monday.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.