PRIME. International rating agency Moody’s withdrew its local currency and foreign currency deposit rating of Caa1 on First Republican Bank, the agency said in a press release.
In addition, the lender’s short-term deposit rating of Not Prime and BFSR of E were also withdrawn. At the time of withdrawal all the bank’s long-term ratings carried a stable outlook.
First Republican Bank decided not to be rated any longer by Moody`s Investors Service as there is no need for the bank right now to maintain its international rating," the lending institution said in a press release.
