Albany, NY City Guide

Fitch Affirms Cathay General Bancorp’s Ratings; Outlook Negative

NEW YORK–(BUSINESS WIRE)–Fitch Ratings has affirmed the long-term Issuer Default Ratings (IDR) for Cathay General Bancorp (CATY) and its bank subsidiary, Cathay Bank at ‘BB’. The Rating Outlook is Negative. A complete list of ratings is provided at the end of this release. Fitch’s affirmation of CATY’s ratings follows a further analysis of the company’s commercial real estate (CRE) portfolio (please see the Fitch report ‘U.S. Bank CRE Exposure Review’ dated Nov. 16, 2009). Based on this analys

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Fitch Affirms Cathay General Bancorp’s Ratings; Outlook Negative

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