Mar 15, 2023 | Politics

First Republic Bank Downgraded to “Junk”

First Republic Bank Downgraded to "Junk"

California-based First Republic Bank was one out of six banks placed on “downgrade watch” by Moody’s Investors Service this week.

Additional Banking Collapses Imminent? Six Banks Placed On ‘Downgrade Watch’

Although it had a 50% rebound, First Republic dropped 66% in pre-market on Monday.

The other banks on Moody’s downgrade watch list include:

  • Western Alliance Bancorp
  • Intrust Financial Corp
  • UMB Financial Corp
  • Zions Bancorp
  • Comerica Inc

Bloomberg reported:

Moody’s Investors Service placed First Republic Bank and five other US lenders on…

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