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Banco Citibank S.A. Jan 05
Standard & Poors, Jan 2005
Abstract
Support from parent Track record Asset quality Exposure to Brazilian risk Strong competition The ratings on Banco Citibank S.A. (Citi) reflect the uncertainties of operating in Brazil and the institution's exposure to the domestic economic risk, also marked by strong competition in both the wholesale and the retail segments. Offsetting these negatives, Citi's rating is sustained by having Citigroup Inc. (AA-/Stable/A-1+) as shareholder and Standard & Poor's Ratings Services' expectation of parent support. The rating also mirrors Citi's positive track record in the local market, its knowledge of the country, and the good credit quality of its loan portfolio, as attested by strong nonperforming loan indicators. The rating on Citi is based on the support of its parent. In our...
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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