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.
UPDATE – First Republic Bank rebounds +50% at market open.
— Disclose.tv (@disclosetv) March 14, 2023
The other banks on Moody’s downgrade watch list include:
Western Alliance Bancorp Intrust Financial Corp UMB Financial Corp Zions Bancorp Comerica Inc
Moody’s puts First Republic Bank and five other US lenders on review for downgrade, the latest sign of concern over the health of regional financial firms https://t.co/NqtuzxJvek
— Bloomberg (@business) March 14, 2023
Bloomberg reported:
Moody’s Investors
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!