Read more
6:09 PM · 15 March 2023

First Republic Bank tumbles after S&P Global Ratings and Fitch downgrades

-
-
Open account Download free app

First Republic Bank (FRC.US) stock cratered 23% as turmoil surrounding Credit Suisse rattled the broader banking sector, especially smaller banks. Also the bank's credit rating was downgraded by two  major rating agencies. S&P Global Ratings downgraded its debt rating to BB+ from A- amid worries that depositors could withdraw their funds despite the federal intervention.

 At the same time Fitch downgraded the regional bank to "BB" from "A-", as funding and liquidity profile has changed and represents a "weakest link" relative to other rating factors.

First Republic Bank (FRC.US) stock price fell sharply following the downgrades and erased a large chunk of yesterday's gains. Nevertheless as long as price sits above the recent all-time low at $8.40, then another upward impulse may be launched. Source: xStation5

6 March 2026, 6:49 PM

Boeing gains amid news about potential huge 737 MAX order from China 📈

6 March 2026, 4:17 PM

Wall Street tries to stop the deeper decline 🗽Marvell Technology jumps 10%

6 March 2026, 1:26 PM

RyanAir shares under pressure amid Middle East conflict 📉

5 March 2026, 12:50 PM

Stock of the Week: Broadcom Driven by AI Sets Records

Join over 2 000 000 XTB Group Clients from around the world
The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits