UPDATE: First Republic Bank Downgraded to “Junk”

UPDATE: 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.

UPDATE – First Republic Bank rebounds +50% at market open.

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— 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

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