Fitch downgrades First Republic to BB. Places ratings on negative watch | Forexlive

Fitch has downgraded First Republic to BB, a junk rating, and placed the ratings on negative watch. Shares of the regional bank (FRC) have declined by $6.73 or 16.98%, currently trading at $32.95. On Monday, the stock hit a low of $17.53 before rebounding to a high of $50.97 yesterday. As recently as March 3rd, the price reached $123.70, and on February 2nd, it traded as high as $147.68. The stock’s peak in 2021 was $222.86.