BREAKINGVIEWS-A band-aid for the US banking system risks fraying
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IntraFi's business, which helps lenders stretch deposit insurance, has surged following the failure of Silicon Valley Bank, with $438 billion in accounts utilizing its services. However, competition is increasing, and the company faces scrutiny as it accumulates debt. Recent downgrades by Moody's and S&P Global have lowered IntraFi's debt rating to B-, significantly below investment-grade status, following a $2 billion debt offering that raised its leverage ratio to 9 times expected EBITDA.
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