Research Update: Citigroup Inc. 'A/A-1' Rating Affirmed; SACP, Hybrid, And Preferred Stock Ratings Raised Dec 10
Standard & Poors, December 2010
Abstract
Citigroup has made significant fundamental progress in shedding assets while boosting earnings. We affirmed our issuer and debt ratings on Citigroup and raised our hybrid ratings (which include all preferred debt). We expect continued divestitures of assets in Citi Holdings and improving credit trends in both Citicorp and Citi Holdings. On Dec. 15, 2010, Standard & Poor's Ratings Services affirmed its 'A/A-1' counterparty credit rating on Citigroup Inc. (Citi). We also affirmed the ratings on various affiliates, including the 'A+/A-1' counterparty credit rating on Citibank N.A., its lead bank subsidiary. At the same time, we raised the stand-alone credit profile (SACP) on Citi by one notch to 'bbb+' from 'bbb' and raised the SACP of Citibank N.A. by one notch...
Action: Affirmed
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- Citigroup Inc.
- Washington Mutual Finance Corp.
- CitiFinancial Credit Corp.
- Citibank N.A.
- Citibank (South Dakota) N.A. Sioux Falls
- Citigroup Global Markets Inc.
- Associates First Capital Corp.
- Banco Nacional de Mexico S.A.
- Citigroup Global Markets Holdings Inc.
- Citigroup Capital III
- Citigroup Netherlands B.V.
- Citigroup Capital VII
- Citigroup Capital VIII
- Citigroup Capital IX
- Citigroup Capital X
- Citigroup Capital XI
- Citigroup Capital XII
- Citigroup Capital XIII
- Associates Finance Inc.
- Citigroup Finance Canada Inc.
- Citibank N.A. (Canadian Branch)
- Citigroup Funding Inc.
- Citigroup Capital XIV
- Citigroup Capital XV
- Citigroup Capital XVI
- Citigroup Capital XVII
- Citigroup Capital XVIII
- Safety First Trust Series 2006-1
- Citigroup Capital XIX
- Citigroup Capital XX
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