Credit ratings agency Moody’s has put six U.S. banks on review for downgrade, including First Republic Bank, which is one of the largest in the country—a decision that follows the collapse of two banks over the weekend.
In addition to First Republic, the banks under Moody’s downgrade review include Comerica Inc, UMB Financial Corp., Zions Bancorp., Western Alliance Bancorp., and Intrust Financial Corp. The decision by the agency comes after the downfall of Silicon Valley Bank (SVB) and Signature Bank, triggering worries about the health of the American banking sector.
