KEY RATING DRIVERs - SENIOR NOTES
The senior notes represent senior unsecured obligations of First Republic Bank, and therefore, the ratings of the senior notes are equalized with the bank's Issuer Default Rating of 'A-'.
RATING SENSITIVITIES - SENIOR NOTES
Given that the senior notes are aligned with First Republic Bank's long-term IDR, any changes to the bank's long-term IDR will impact the rating of the senior notes.
First Republic Bank's Rating Outlook is Stable, although the bank's long-term IDR could be pressured if liquidity risk increases significantly, asset quality deteriorates, or if key markets such as
Additional information is available at 'www.fitchratings.com.'
--'Global Financial Institutions Rating Criteria' (
Global Financial Institutions Rating Criteria
Source: Fitch Ratings
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