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S&P Credit Research1143 word report
published Jan 16, 2009
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S&P Credit Research
| Abstract: | NEW YORK (Standard&Poor's) Jan. 16, 2009--Standard&Poor's Ratings Services said today that it affirmed its 'A/A-1' counterparty credit rating on Citigroup Inc. (Citi; holding company). The outlook is stable. "This action follows the company's announcement of a significantly larger-than-anticipated fourth-quarter loss, as well as the disclosure of an organizational restructuring of its businesses," said Standard&Poor's credit analyst Scott Sprinzen. We have also affirmed our ratings on Citi's subsidiaries, including Citibank N.A. New York, NY (A+/Stable/A-1). At the same time, we lowered our ratings on Citi's hybrid capital issues to 'BB' from 'BBB', reflecting our view that the risk that dividend payments could be deferred has increased. Citi's $12.1 billion fourth-quarter net loss from continuing operations
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| Brief Excerpt: | RESEARCH Ratings Definitions Citigroup Inc. Counterparty Credit Rating Affirmed; Hybrid Issue Ratings Lowered Publication date: 16-Jan-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.
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