New York Community Bancorp, Inc.'s (NYCB) Long-Term Issuer Default Ratings (IDRs) were recently downgraded to BB from BB+ by Fitch Ratings. Nonetheless, the rating outlook remains stable.The primary reasons behind the downgrade were NYCB's weak earnings and profitability, along with execution risk associated with its restructuring plan.Principal Factors Driving the DowngradeDeclining Profitability: The rating downgrade comes after the release of its first-quarter earnings. Results showed a significant rise ...