Riggs National Corp. of Washington, an infrequent issuer of securities, plans to sell $200 million of floating-rate trust-preferred securities today, sources said.

The issue has been rated on the borderline between investment grade and noninvestment grade by Moody's Investors Service and Standard & Poor's Inc. As a result, market participants are uncertain about demand for the securities and what the price will be.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.