RPT-Moody's cuts Citi debt, warns of further downgrade
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NEW YORK, Dec 13 (Reuters) - Moody's Investors Service on Thursday downgraded its ratings on Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) 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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