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S&P Credit Research711 word report
published Jul 30, 2009
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S&P Credit Research
| Abstract: | 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 issues to reflect the distressed exchange, we are now raising the ratings on those issues to reflect our reassessment of ongoing risks to remaining hybrid investors. We are affirming our 'A/A-1' counterparty credit and debt ratings on Citigroup. We continue to view the bank's stand-alone credit profile as being four notches below the counterparty credit rating. NEW YORK (Standard&Poor's) July 30, 2009--Standard&Poor's Ratings Services said today that it has affirmed its 'A/A-1' counterparty credit rating
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| Brief Excerpt: | RESEARCH Ratings Definitions Citigroup Inc. 'A/A-1' Rating Affirmed; Preferred Issues Rating Raised To 'B+aÇÖ From 'C' And Off CreditWatch Publication date: 30-Jul-2009 Primary Credit Analyst: Scott Sprinzen, New York (1) 212-438-7812;...
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| Report Type: | Ratings Action
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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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