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S&P Credit Research811 word report
published Apr 18, 2008
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S&P Credit Research
| Abstract: | On April 18, 2008, Standard&Poor's Ratings Services placed its 'AA-/A-1+' counterparty credit rating on Citigroup Inc. on CreditWatch with negative implications. The 'AA' long-term counterparty credit ratings on Citigroup's subsidiaries are also placed on CreditWatch Negative. Citigroup's announced loss of $5.1 billion for the first quarter reflects not only further marks to market of securities, but large additions to reserves in anticipation of further deterioration in its loan portfolio. The latter issues could represent another wave of problems that would depress earnings for the medium term. We will focus on the firm's prospects for returning to adequate levels of profitability in the near future. If we determine that the potential for earnings volatility and further depletion of the
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| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: Citigroup Inc. '##-/A-1+' Rating Placed On CreditWatch Negative Publication date: 18-Apr-2008 Primary Credit Analyst: Tanya Azarchs, New York (1) 212-438-7365; tanya_azarchs@standardandpoors.com...
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| Report Type: | Research Update
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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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