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Article: USA: MOODY'S AFFIRMS CITIGROUP'S RATINGS; OUTLOOK CHANGED TO NEGATIVE.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- April 21, 2008
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Moody's Investors Service affirmed its ratings on Citigroup Inc., and subsidiaries but changed the rating outlook to negative. Moody's actions follow the announcement that Citigroup reported a net loss of $5.1 billion in first quarter 2008 (1Q08). Moody's rates the senior debt of Citigroup Aa3. Citibank N.A. is rated B for financial strength and Aa1 for deposits. Moody's said it affirmed Citigroup's ratings because even after the 1Q08 losses incurred from credit costs, its regulatory capital surplus remains sizable. Citigroup's capital position improved noticeably in the past seven months because the company has issued over $30 billion in regulatory capital. ...