Fitch: First Republic notes A-

Fitch Ratings said it assigned an A- rating to First Republic Bank's $400 million senior note offering.

The senior notes mature on June 17, 2019 and have a coupon set at 2.375%, the agency said.

The notes will be used for general corporate purposes, Fitch stated.

The ratings of the senior notes are equalized with the bank's issuer default rating of A-.

First Republic Bank's outlook is stable, although the bank's long-term issuer default rating could be pressured if liquidity risk increases significantly, asset quality deteriorates, or if key markets such as San Francisco experience significant economic weakness, the agency said.

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