• Most Popular
  • Most Shared

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

Thu Dec 13, 2007 9:43pm EST

Stocks

   

(Repeats to widen distribution)

Stocks  |  Bonds

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)

Stocks
Bonds


More from Reuters

Photo

Qaeda group says responsible for Detroit air incident

KAILUA, Hawaii (Reuters) - A regional wing of al Qaeda claimed responsibility on Monday for a failed Christmas Day attack on a U.S.-bound passenger plane, saying it was to avenge U.S. attacks on the group in Yemen. | Video

» More Top News
Passengers queue to go through security checks at the departure gate at Gatwick Airport, in southern England December 28, 2009. REUTERS/Luke MacGregor

Travel headaches after scare

The U.S. is stepping up airline security measures following the Christmas bomb scare. Here's what you can expect.  Full Article | Video 

U.S.
A man yells at the site of suicide bomb attack on a procession of Shit'ite Muslims commemorating Ashura in Karachi December 28, 2009. Credit: REUTERS/Athar Hussain

"Worse than an infidel"

Dozens killed as suicide bomber attacks Shi'ite Muslim progression in Pakistan despite thousands of security forces on high alert.   Full Article | Video 

World