Moody's downgrades credit ratings on First Republic Bank

Ratings agency Moody's on Friday downgraded the credit of First Republic Bank (FRC.N), citing deterioration in the bank's financial profile and challenges faced by the lender due to increased reliance on funding amid deposit outflows.
The agency cut the bank's long-term issuer rating and local currency subordinate ratings to B2 from Baa1 and long-term local currency bank…

This story appeared on, 2023-03-18.
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