New York, May 16, 2013 -- Moody's Investors Service downgraded the ratings of The Bank of N.T. Butterfield & Son Limited (Butterfield). Butterfield's standalone bank financial strength rating/baseline credit assessment was downgraded to D+/baa3 from C-/baa2. The bank's long-term deposit rating was downgraded to A3 from A2 and its short-term rating to Prime-2 from Prime-1. The rating outlook is stable. This concludes the review for downgrade that was initiated on 3 April 2013.
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