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Moody’s Earlier Downgraded First Republic Bank’s Ratings (Issuer Rating To B2 From Baa1) And Maintains Ratings Under Review For Downgrade

Moody's Investors Service (Moody's) has today downgraded all long-term ratings and assessments of First Republic Bank (First Republic) and maintained the review for downgrade. First Republic's long-term issuer rating and local currency subordinate ratings were downgraded to B2 from Baa1, and preferred stock non-cumulative rating was downgraded to Caa1(hyb) from Baa3(hyb).