Monday March 20, 2023

// March 20th, 2023 // Daily News


First Republic shares slide 18% Monday after a credit rating downgrade

Shares of First Republic Bank, which have become the barometer of the regional bank crisis, slid once again Monday after Standard & Poor’s cut the credit rating of the San Francisco-based institution.

S&P reduced its credit rating to B+ from BB+ on Sunday after first lowering it to junk status just last week. The rating remains on CreditWatch Negative, said S&P.

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