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Fitch Lowers Ratings for Mid-Atlantic Corporate FCU

WASHINGTON - Fitch Ratings dropped Mid-Atlantic Corporate Federal Credit Union's individual rating to B/C from A/B today, as result of the financial exposure of the corporates triggered by U.S. Central's $1.2 billion write off for last year.

By Claude R. Marx | Updated on February 10, 2009

WASHINGTON – Fitch Ratings dropped Mid-Atlantic Corporate Federal Credit Union’s individual rating to B/C from A/B today, as result of the financial exposure of the corporates triggered by U.S. Central’s $1.2 billion write off for last year.

Mid-Atlantic’s long-term rating was lowered to A+ from A/A- and its short-term rating was unchanged.

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