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Banco Citibank S.A. Jan 06
Standard & Poors, Jan 2006
Abstract
Benefits of belonging to Citigroup, including expected support from parent Citibank's long track record in the market Strong asset quality indicators Strong competitive environment Challenge to improve its business generations Exposure to Brazil's industry and economic risk The ratings on Banco Citibank S.A. (Citi) reflect the uncertainties of operating in Brazil and the bank's exposure to domestic economic risk, as well as strong competition in both the wholesale and the retail segments. Offsetting these negatives, the rating is sustained by the benefits of having Citigroup Inc. (AA-/Stable/A-1+) as a shareholder, including expectation of parental support. The rating also mirrors Citi's long track record and knowledge of the country, and the historical good credit quality of its loan portfolio, as attested...
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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