Doral Financial Corp. upgraded to positive ratings outlook by Fitch
Shares of Doral Financial Corp. (NYSE: DRL) edged higher Monday morning after ratings agency Fitch Ratings said late Friday it upgraded its rating outlook for the financial services company to positive from rating of "Rating Watch Negative."
Fitch said the positive rating outlook is based on Doral closing a $610 million sale of a 90% stake to Bear Stearns Merchant Banking as well as the Puerto Rican bank’s payment of a $625 million impending debt maturity.
Shares of Doral Financial edged up 1.55%, or $0.02, to $1.31 Monday morning.
