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First Republic Bank Downgraded By S&P Further Into Junk Territory Despite $30B Deposit Infusion
Sunday, March 19, 2023 - 9:39pm | 436Read More...S&P Global reportedly downgraded the credit ratings of First Republic Bank (NYSE:FRC) deeper into junk status on Sunday and said the recent $30 billion deposit infusion from 11 big banks may not solve its liquidity issues. What Happened: S&P trimmed First Republic’s credit rating...
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Credit Suisse Bondholders Angry As $17B Of AT1 Debt To Be Written Down To Zero: What It Means
Sunday, March 19, 2023 - 9:02pm | 470Read More...Credit Suisse Group AG (NYSE:CS) said on Sunday 16 billion Swiss francs ($17.24 billion) of its additional tier 1 (AT1) debt, a type of bond, will be written down to zero on the orders of the Swiss regulator FINMA as part of its rescue merger with UBS Group AG (NYSE:UBS). AT1 is used to shore up a...
