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Fitch affirms First Republic Bank ratings

Fitch Ratings on Jan. 16 affirmed the long-term and short-term issuer default ratings of San Francisco-based First Republic Bank at A- and F1, respectively.

The ratings outlook is "stable."

Fitch said the affirmation reflects the company's "focused strategy," "strong franchise" and "conservative credit culture" which have resulted in strong asset quality and stability in financial performance over time.

Fitch also affirmed the company's viability rating at "a-," support rating at 5 and support floor at NF.