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Article: USA: MOODY'S UPGRADES RATINGS OF CITY NATIONAL CORPORATION, SENIOR DEBT TO A3.(Brief Article)
- Article from:
- IPR Strategic Business Information Database
- Article date:
- September 29, 2003
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Moody's Investors Service upgraded the ratings of City National Corporation, senior debt to A3 from Baa1, and the ratings of its lead bank, City National Bank, bank deposits to A2 from A3. The ratings upgrades reflect City National's ongoing strengthening of core profitability, broadening business franchise, and improving risk management. The upgrade also incorporates City National's strengthened bank liquidity, which we expect to be maintained through the longer term. The agency said that City National's ratings are underpinned by strong relationship-based business banking and private banking franchises in southern California. Moody's noted that the ratings also ...