New York, March 20, 2014 -- Moody's Investors Service downgraded the long-term ratings of First Niagara Financial Group, Inc. (FNFG) and its subsidiaries. FNFG's issuer rating was downgraded to Ba1 from Baa2. The standalone bank financial strength rating (BFSR) of the company's lead bank, First Niagara Bank, N.A., was downgraded to D+ from C-. The bank's standalone baseline credit assessment (BCA) is now baa3. The bank's long-term deposit rating was downgraded to Baa3 from Baa1 and its short-term deposit rating was downgraded to Prime-3 from Prime-2. Following the rating action, FNFG's rating outlook is stable.

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