Ratings
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Moody’s downgrades SVB Financial Group and will revoke its rating
It is reported that Moody’s lowered the rating of Silicon Valley Bank Financial Group and its banking subsidiary, Silicon Valley Bank, and said that it would withdraw its rating for commercial reasons. The long-term local currency bank deposit and issuer ratings of Silicon Valley Bank were lowered from A1 and Baa1 to Caa2 and C respectively, and the local currency senior unsecured and long-term issuer ratings of Silicon Valley Bank Financial Group were lowered from Baa1 to C. Interpretation of this information: Moody’s Investors Service has recently lowered the rating…
