First Republic Bank gets downgrade to junk from Moody’s
Moody’s Investors Service downgraded its credit rating on First Republic Bank to junk late Friday, citing a “deterioration in the bank’s financial profile.”
The... Moody’s Investors Service downgraded its credit rating on First Republic Bank to junk late Friday, citing a “deterioration in the bank’s financial profile.” The downgrade reflects “the deterioration in the bank’s financial profile and the significant challenges First Republic Bank faces over the medium term in light of its increased reliance on short-term and higher cost wholesale funding due to deposit outflows,” Moody’s analysts said in a release.
“Moody’s believes the high cost of these borrowings, combined with the high proportion of fixed rate assets at the bank, is likely to have a large negative impact on First Republic’s core profitability in coming quarters,” the analysts said. “In addition, the rating agency noted that while the news of the banking consortium’s deposits is positive in the short-run, the longer-run path for the bank back to sustained profitability remains uncertain.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Moody's downgrades credit ratings on First Republic BankRatings agency Moody's on Friday downgraded the credit of First Republic Bank , citing deterioration in the bank's financial profile and challenges faced by the lender due to increased reliance on funding amid deposit outflows.
Leer más »
First Republic Bank becomes the latest bank to be rescued, this time by its rivalsThe lenders including J.P.Morgan and Wells Fargo would deposit $30 billion into the beleaguered midsized lender as part of the rescue.
Leer más »
First Republic Bank considers strategic options, potential sale - Bloomberg By Investing.com*FIRST REPUBLIC BANK EXPLORING STRATEGIC OPTIONS, INCLUDING POTENTIAL SALE $FRC
Leer más »
First Republic Bank credit rating cut to junk at S&P and FitchFirst Republic Bank downgraded to junk by S&P and Fitch on risk of clients pulling deposits in the wake of SVB failure
Leer más »
SVB crisis: First Republic Bank is looking at a possible sale, per BBGFirst Republic Bank, which was downgraded to junk by S&P and Fitch, is looking at a possible sale: Bloomberg
Leer más »
First Republic Bank slides another 15% premarket after reports it’s mulling a possible saleFirst Republic Bank stock tumbled another 15% in premarket trade Thursday, amid reports it’s exploring its strategic options, including a potential sale of...
Leer más »