S&P lowers First Citizens, Republic banks outlook to negativeRepublic Bank branch in Rio Claro. -STANDARD & Poor's (S&P) has revised the outlook on two majority state-owned banks – First Citizens and Republic Bank – from stable to negative. It also followed S&P's revised outlook for TT on September 25. For First Citizens, S&P said on September 8 that its strong capitalisation helps its creditworthiness, especially in distressed scenarios. “Therefore we revised the outlook on both banks following the same action on TT.”Despite the revised outlook, S&P still views the banks’ creditworthiness as stable.