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Article: USA: MOODY'S CHANGES RATING OUTLOOK ON CITY NATIONAL TO POSITIVE.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- April 20, 2006
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Moody's Investors Service changed the rating outlook on City National Corporation (senior debt rating of A3) and City National Bank (deposit rating of A2, bank financial strength of C+) to positive from stable. Moody's said that the change in outlook reflects City National's valuable business franchise focused on business banking and private banking in southern California, good financial fundamentals, and solid risk management. Moody's added that City National has reduced some loan concentrations. Moody's noted that City National's earnings benefit from its large balances of noninterest bearing deposits; profitability has consistently been above similarly rated ...