May only be redeemed on a dividend payment date
Downgrade from Moodys 8/7/2023 from Baa3 to Ba1
Sector: Banking
Wells Fargo & Company 4.70% Non-Cumulative Perpetual Class A Preferred Stock, Series AA
Can only be redeemed on dividend payment date
MainStreet Bancshares Inc. 7.50% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock
10/01/2020 I have rated this new issue ‘D’. The company has a huge amount (22%+/-) of loans in deferral because of the corona virus. It is likely many of these loans will not be paid and as a small bank financials could be significantly affected.
7/6/2023 Upgraded to average as the bank has fixed their previous credit issues.
Capital One Financial 4.625% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series K
Redeemable only on a dividend payment date
CNB Financial Corporation 7.125% Series A Fixed Rate Non-Cumulative Perpetual Preferred Stock