Citibank N.A. (Uruguay Branch) Jun 04

  • ID: 1722262
  • June 2004
  • Region: Uruguay
  • Standard & Poors
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High financial flexibility as a result of the entity being a branch of Citibank N.A. New York, NY Reduced structure and fixed costs as a result of the rationalization process the bank undertook following the Uruguayan crisis Operating in the still-weak Uruguayan environment Though slowly improving, asset quality remains under pressure The ratings assigned to Citibank N.A. (Uruguay Branch) (Citibank Uruguay) are based on its being a branch Citibank N.A. New York NY (AA/Stable/A-1+), and its obligations being obligations of the bank, constrained by the Uruguayan sovereign risk. The bank would be expected to ensure full and timely payment of the branch's obligations, absent direct sovereign intervention. Ratings on the national scale exclude sovereign direct intervention risk and indicate the...

Action: Review

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Research Type: Full Analysis

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