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S&P cuts First Republic deeper into junk, says $30 billion infusion may not solve problems

March 19 (Reuters) – First Republic Bank (FRC.N) saw its credit ratings downgraded deeper into junk status by S&P Global, which said the lender’s recent $30 billion deposit infusion from 11 big banks may not solve its liquidity problems. S&P cut First Republic’s credit rating three notches to …

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