RPT-Moody's cuts Citi debt, warns of further downgrade

Thu Dec 13, 2007 9:43pm EST
 
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NEW YORK, Dec 13 (Reuters) - Moody's Investors Service on Thursday downgraded its ratings on Citigroup Inc (C.N) debt, saying it doubted that the largest U.S. bank would succeed in rebuilding its capital ratios any time soon.

The ratings agency, which cut Citi's long-term ratings to Aa3 from Aa2, said the company's failure to restore its capital ratios in the medium term could lead to a further downgrade.

Moody's also lowered Citi's financial strength rating to B from A- and cut its long-term deposits and senior debt to Aa1 from Aaa. (Reporting by Christian Plumb; Editing by Gary Hill)

 

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