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S&P cuts First Republic rating to junk

2023-03-15T15:43:12.226Z

S&P cuts First Republic's credit rating to 'BB+' from 'A-', placing the bank on 'negative creditwatch', with negative implications. The BB+ level corresponds to 'junk'. (HANDLE)

(ANSA) - NEW YORK, MARCH 15 - The S&P agency cuts the rating of First Republic to 'BB+' from 'A-', putting the bank under 'negative credit watch', under observation with negative implications.

The BB+ level corresponds to 'junk'.


   According to the agency, the risk of a flight of deposits from FirstRepublic is high.

(HANDLE).


Source: ansa

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