HomeFed Bank’s Ratings Lowered: Standard & Poor’s...
From Times Staff and Wire Reports
HomeFed Bank’s Ratings Lowered: Standard & Poor’s said it cut its ratings on certain debt obligations of the San Diego-based thrift, which recently announced sharp additions to its problem loans. The downgrade reflects an increased level of real estate non-performing assets and a relatively high level of commercial real estate and construction loans in softening markets throughout the country, S&P; said.
