Citigroup Inc. - 2009/07/31 - S&P Credit Research

Report title: Citigroup Inc.

from S&P Credit Research
10300 word report published Jul 31, 2009

Price $400.00 available for immediate download

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Abstract:

Support of the U.S. government because of Citigroup's status as a highly systemically important bank. Extraordinarily diverse set of businesses operating worldwide. Leadership positions in corporate lending, investment banking, cash management, and custody operations. Management instability. Persisting weak profitability, owing largely to pressures stemming from the credit cycle and market displacements. Certain business franchises' high degree of dependence on maintaining the confidence of clients and counterparties. Reliance on wholesale funding in its large trading operations. Need to realize value from businesses slated for divestiture, restructuring, or winding down, amid a weak environment. Standard&Poor's Ratings Services' ratings on Citi reflect our view of both the extraordinary external support from the U.S. government for highly systemically important U.S. financial institutions

Brief Excerpt:

RESEARCH Ratings Definitions Citigroup Inc. Publication date: 31-Jul-2009 Primary Credit Analyst: Scott Sprinzen, New York (1) 212-438-7812; scott_sprinzen@standardandpoors.com Secondary Credit Analyst: Tanya Azarchs, New York (1)...

Report Type:

Full Report

Ticker:

Issuer:

Citigroup Inc.

GICS:

Other Diversified Financial Services (40201020)

Sector:

Global Issuers, Public Finance, Structured Finance

Country:

United States

Region:

United States

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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.

Also from S&P Credit Research

Bulletin: Citigroup Inc. Rating Unaffected By Fair Third-Quarter Results $100.00
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 ...
S&P Corrects Rating On One Subordinated Issue Of Citigroup Inc. $100.00
NEW YORK (Standard&Poor's) Sept. 4, 2009--Standard&Poor's Rating Services said today that it has corrected its rating on Citigroup Inc.'s CHF300 million 2.75% fixed/floating rate callable notes due April 2021 (ISIN Code: CH0024683192) to 'A-'. ...
Summary: Citigroup Inc. $175.00
Standard&Poor's Ratings Services' ratings on Citi reflect our view of both the extraordinary external support from the U.S. government for highly systemically important U.S. financial institutions and Citi's own credit characteristics. Over ...
Citigroup Inc. 'A/A-1' Rating Affirmed; Preferred Issues Rating Raised To 'B+? From 'C' And Off CreditWatch $100.00
Citi is expected to complete today the public portion of an exchange of around $58 billion in hybrid capital issues for common stock, which we view as a distressed exchange under our criteria. Having previously lowered our ratings on the affected ...
Research Update: Citigroup Inc. 'A/A-1' Rating Affirmed; Preferred Issues Rating Raised To 'B+? From 'C' And Off CreditWatch $175.00
Citi is expected to complete today the public portion of an exchange of around $58 billion in hybrid capital issues for common stock, which we view as a distressed exchange under our criteria. Having previously lowered our ratings on the affected ...
Citigroup Inc. 'A/A-1' Ratings Affirmed; Issues Downgraded To 'C' From 'CC' And On CW Positive From CW Developing $100.00
Citi will soon complete an exchange of around $58 billion in hybrid capital issues for common stock, which we view as a distressed exchange under our criteria. We are lowering the ratings on the affected issues not already rated 'C' and affirming ...
Research Update: Citigroup Inc. 'A/A-1' Ratings Affirmed; Issues Downgraded To 'C' From 'CC' And On CW Positive From CW Developing $175.00
Citi is expected to soon complete the public portion of an exchange of around $58 billion in hybrid capital issues for common stock, which we view as a distressed exchange under our criteria. We are lowering the ratings on the affected issues ...
Bulletin: Citigroup Inc. Rating Unaffected By Weak Second-Quarter Results $100.00
NEW YORK (Standard&Poor's) July 17, 2009--Standard&Poor's Ratings Services said today that its rating on Citigroup Inc. (Citi; A/Stable/A-1, holding company) is not affected by the company's just-announced weak second-quarter earnings. Citi ...

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