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First Republic Bank cut to junk status by S&P, Fitch amid bank turmoil

Por: Los Angeles Times Business March 15, 2023

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First Republic Bank was cut to junk by S&P Global Ratings and Fitch Ratings amid concern that clients will pull holdings from the lender, even after U.S. regulators pledged support for the banking sector. The California-based bank’s credit rating was lowered to BB+ from A-, and it remains on credit watch negative, according to an S&P statement Wednesday. Shortly after, Fitch cut the bank to BB from A-, a step below the S&P rating, and placed... + full article



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