DBRS Assigns Provisional Rating of AAA to New York Community Bancorp, Inc.’s FDIC Guaranteed Notes Issuance

DBRS has today assigned a provisional rating of AAA to the $90 million of 2.55% Senior Notes due June 22, 2012, (the Notes) issued by New York Community Bancorp, Inc. The Notes are being issued pursuant to an Offering Circular dated December 17, 2008.

The provisional AAA rating is based on the explicit guarantee provided by the Federal Deposit Insurance Corporation (FDIC) Temporary Liquidity Guarantee Program (TLGP), which is backed by the full faith and credit of the United States. Under the TLGP, the FDIC guarantees payment of qualifying debt issued by eligible U.S. bank holding companies, such as New York Community Bancorp, Inc., and banks.

The AAA rating reflects DBRS’s opinion as to the guarantor’s ability to honor the guarantee as determined by internal assessment of the sovereign. All other debt ratings, including New York Community Bancorp, Inc.’s BBB (high) Issuer & Senior Debt, remain at their current levels. All long-term non-guaranteed ratings have a Stable trend.

Finalization of the rating is contingent upon receipt of final documents conforming to information already received.

Note:
All figures are U.S. dollars unless otherwise noted.

The applicable methodology is Rating Banks and Bank Holding Companies Operating in the United States which can be found on our website under Methodologies.

This is a Corporate (Financial Institutions) rating.