...Ratings Underpinned by Capital, Liquidity: Citigroup Inc.'s (Citi) ratings are supported by its solid liquidity and capital levels. Citi's fully phased-in CETI under Basel III improved to an estimated 11.7% at Sept. 30, 2015, up over 100 bps from a year ago. The company's liquidity profile is much improved with a large percentage of high-quality liquid assets (HQLA) as a percentage of assets at Sept. 30, 2015 (22%). Bank-Level Ratings Reflect TLAC: Citibank, N.A.'s long-term IDR was upgraded to `A+' from `A' in May 2015, reflecting Fitch Ratings' belief that the U.S. single point of entry (SPE) resolution regime, the likely implementation of total loss absorbing capital (TLAC) requirements for U.S. G-SIBs and the presence of substantial holding company debt reduce the default risk of domestic operating subsidiaries' senior liabilities relative to holding company senior debt. Earnings Reflect Improving Trend: Citi's earnings performance through the first nine months of 2015 reflects a strong...
