...Ratings Affirmed with Stable Outlook: In affirming Community Bank System, Inc.'s (CBU) long-term IDR of `A¡' and Stable Outlook on May 4, 2020, Fitch Ratings recognizes that the company entered the coronavirus pandemic from a position of strength, bolstered by consistent earnings, a strong capital position, diversified revenue streams, and measured balance sheet growth, which Fitch believes may allow the bank to emerge from the coronavirus-relate d downturn with its rating intact. Asset Quality Expected to Deteriorate: The rating incorporates Fitch's expectation of moderate deterioration of CBU's asset quality metrics as a result of the adverse economic conditions caused by the coronavirus pandemic. CBU benefits from the slower growth dynamics of its rural footprint, although Fitch recognizes that this is less likely to insulate the bank in the current downturn. Robust Capital Ratios: Fitch views CBU's Tier 1 Leverage ratio of 10.79% as robust and a significant buffer against potential...
