S&P Withdraws SVB Rating, Expects SVB Finl to Enter Bankruptcy

S&P lowers issuer credit rating on Silicon Valley Bank to ‘D’ from ‘BBB’ and that on SVB Financial Group to ‘CC’ from ‘BBB-’, and subsequently withdrew the ratings, according to a statement.

• Expects SVB Financial Group to enter bankruptcy; outlook negative following regulatory closure of its primary operating subsidiary
• NOTE: SVB Spectacularly Fails After Unthinkable Heresy Becomes Reality

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