S&P Revises Outlooks on Citigroup, Bank Of America to Negative From Stable

2-9-10 • ZeroHedge.com

Citigroup downgrade highlights:

We believe there is increased uncertainty about the U.S. government's willingness to provide additional extraordinary support to highly systemically important financial institutions in a way that will benefit debt holders. We are revising our outlook on Citigroup to negative from stable and affirming the ratings. We are also raising our hybrid capital issue ratings (excluding preferred stock ratings) on Citigroup. We believe Citigroup's stand-alone position has improved.Rating Action

On Feb. 9, 2010, Standard & Poor's Ratings Services revised its outlook on Citigroup Inc. (Citi) to negative from stable. At the same time, we affirmed our counterparty credit and debt ratings on Citi (A/A-1; holding company). In light of what we view as improved stand-alone characteristics, we raised the ratings on its hybrid capital issues to 'BB-' from 'B+' (excluding its preferred stock, which we affirmed at 'C').

1 Comments in Response to S&P Revises Outlooks on Citigroup, Bank Of America to Negative From Stable

Comment by Lucky Red

Entered on: 2/9/2010 10:31:39 AM

If you really believe that the US government is not willin to provide additional extraordinary support to its corporate masters, then, perhaps you are interesting in hearing about this little bridge I'm selling in Brooklyn

Make a Comment (1) • Email Link • Send Letter to Editor