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S&P Credit Research1023 word report
published May 08, 2009
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S&P Credit Research
| Abstract: | -- We believe that Citigroup Inc.'s capital boosting measures should provide a cushion against even higher, unanticipated losses. -- Expected credit losses under our stress tests should be manageable, and the bank can count upon governmental support if necessary. -- We are affirming our counterparty credit and debt ratings on Citigroup, and removing these ratings from CreditWatch. The rating outlook is now stable. -- We continue to view the bank's standalone credit profile as being four notches below the counterparty credit rating. NEW YORK (Standard&Poor's) May 8, 2009--Standard&Poor's Ratings Services said today that it affirmed its 'A/A-1' counterparty credit rating (CCR) on Citigroup Inc. and removed this rating from CreditWatch, where it had been placed on
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| Brief Excerpt: | RESEARCH Ratings Definitions Citigroup Inc. 'A/A-1' Rating Affirmed, Removed From CreditWatch; Outlook Stable Publication date: 08-May-2009 Primary Credit Analyst: Scott Sprinzen, New York (1) 212-438-7812; scott_sprinzen@standardandpoors.com...
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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.
Also from S&P Credit Research
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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 ...
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