- Language: English
- Published: October 2012
- Region: Brazil
Research Update: Ratings On Banco Citibank S.A. On CreditWatch Positive After Brazil?s Ratings Raised Nov 11
- Published: November 2011
- Region: Brazil
- Standard & Poors
On Nov. 17th, 2011, the long-term foreign currency sovereign credit rating on Brazil was raised to 'BBB'. We are putting the bank's global scale ratings on CreditWatch with positive implications following the rating change on the sovereign, as we are assessing its impact on Citibank's creditworthiness under the financial institutions' new criteria (Banks: Rating Methodology & Assumptions, Nov. 9, 2011). On Nov. 17, 2011, Standard & Poor's Ratings Services placed its 'BBB-/A-3' global scale rating on Banco Citibank S.A. (Citibank) on CreditWatch with positive implications. The CreditWatch action on Citibank followed our Nov. 17, 2011, raising of the issuer credit ratings on the Federative Republic of Brazil to 'BBB/A-3', with a stable outlook. The ratings on Banco Citibank incorporate its...
Companies mentioned in this report are: Banco Citibank S.A.
Action: On CreditWatch:Positive
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.
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.
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Banco Citibank S.A.