The Business Times

S&P slashes First Republic Bank’s ratings to ‘CC’

    • S&P cut First Republic Bank's credit rating to ‘CC’ and said it expects default to be a “virtual certainty.”
    • S&P cut First Republic Bank's credit rating to ‘CC’ and said it expects default to be a “virtual certainty.” PHOTO: AFP
    Published Wed, May 3, 2023 · 10:54 AM

      S&P Global on Tuesday slashed First Republic Bank’s credit rating deeper into junk territory after the US lender was closed by California banking regulators.

    S&P cut its rating to ‘CC’ and said it expects default to be a “virtual certainty.” REUTERS

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    First Republic Bank

    Share with us your feedback on BT's products and services

    Feedback
    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More