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Article: MOODY'S CHANGES RATING OUTLOOK ON CITY NATIONAL TO POSITIVE
- Article from:
- Info-Prod Research (Middle East)
- Article date:
- April 20, 2006
CopyrightCopyright 2006 Info-Prod Research (Middle East). Provided by ProQuest LLC. (Hide copyright information)
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Moody's Investors Service changed the ratingoutlook on City
National Corporation (senior debt rating of A3) and CityNational Bank
(deposit rating of A2, bank financial strength of C+) topositive from
stable. Moody's said that the change in outlook reflects City
National's valuablebusiness franchise focused on business banking and
private banking insouthern California, good financial fundamentals,
and solid riskmanagement. Moody's added that City National has
reduced some loanconcentrations. Moody's noted that City National's
earnings benefit from its largebalances of noninterest bearing
deposits; profitability has consistentlybeen above similarly rated
peers. Future ratings direction will ...