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S&P Credit Research884 word report
published Oct 15, 2009
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S&P Credit Research
| Abstract: | NEW YORK (Standard&Poor's) Oct. 15, 2009--Standard&Poor's Ratings Services said today that Citigroup Inc.'s (Citi; A/Stable/A-1, holding company) just-announced third-quarter earnings will not affected the ratings. Although improved compared to prior quarters, the earnings were nonetheless weak. Citi generated a moderate adjusted pretax loss, with various special items effectively cancelling out one another. Citi has seen a relatively sharp decline in its trading revenues, although its investment banking, regional consumer banking, and transaction-services units continue to be relatively strong contributors. In aggregate, the weak performance of its Citi Holdings/nonstrategic businesses (particularly the loss-making local consumer lending unit) continues to offset results of these strategic businesses. One encouraging sign is overall charge-offs' modest decline quarter-to-quarter, but it remains
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| Brief Excerpt: | RESEARCH Ratings Definitions Bulletin: Citigroup Inc. Rating Unaffected By Fair Third-Quarter Results Publication date: 15-Oct-2009 Primary Credit Analyst: Scott Sprinzen, New York (1) 212-438-7812; scott_sprinzen@standardandpoors.com...
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| Report Type: | Bulletin
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| Ticker: | C
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| Issuer: | Citigroup Inc.
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| GICS: | Other Diversified Financial Services (40201020)
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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