Fitch Ratings has affirmed the long-term issuer default rating and short-term rating for Astoria Financial Corp. and Astoria Savings and loan.The long-term issuer default rating is BBB-plus, and the short-term rating is F2 with a stable outlook. Fitch said the ratings reflect consistent financial performance despite a challenging operating environment. Astoria continues to originate and hold hybrid, 3/1, and 5/1 adjustable-rate mortgages, as well as multifamily mortgages, to offset margin pressure from rising short term interest rates, Fitch said.

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