Food Business Week
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Fitch Affirms AgFirst, FCB's 'AA-' Long-Term IDR; Outlook Stable
October 22nd, 2009
Fitch Ratings has affirmed the long-term and short-term Issuer Default Ratings (IDR) of AgFirst, FCB (AgFirst) at 'AA-' and 'F1+', respectively. Today's rating action reflects continued stable operating performance, a manageable increase in loan delinquency, and conservative liquidity and capital management. The Rating Outlook is Stable. A list of ratings can be found at the end of this release.
AgFirst is a Farm Credit Bank and is one of the five banks in the Farm Credit System (FCS; rated 'AAA/F1+' by Fitch). FCS is a Government Sponsored Enterprise (GSE) created by Congress in 1916 to provide a reliable source of credit and liquidity to the U.S. agricultural community....
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Source: Food Business Week (2009-10-22)