Contact us (+ 7 (921) 446-25-10)
×
Texting is available for authorized users.
Please register or log in at the website.
×
Your request for online training is sent. Cbonds managers will be in touch with you shortly. Thank you!

Fitch Rates AO Citibank Long-Term Local Currency IDR 'BBB-'; Outlook Negative

September 07, 2016 - Cbonds

 

Fitch Ratings has assigned AO Citibank (Citi) a Long-Term Local Currency Issuer Default Rating (IDR) of 'BBB-' with a Negative Outlook.

KEY RATING DRIVERS
Citi's Long-Term Local Currency IDR is equalised with the bank's Long-Term Foreign Currency IDR, which in turn is underpinned by potential support the bank may receive from its foreign parent, Citigroup Inc. (A/Stable/a). The bank's IDRs are constrained by Russian country risks and in line with the Russian sovereign ratings (BBB-/Negative).

RATING SENSITIVITIES
The Negative Outlook on Citi's Long-Term Local Currency IDR reflects the potential for the rating to be downgraded if Russia's sovereign ratings are downgraded. A sharp deterioration in the ability or propensity of the parent bank to provide support (not expected by Fitch at present) could also result in a downgrade of the subsidiary's ratings.

A stabilisation of the operating environment, and a revision of the Outlook on the sovereign ratings to Stable, could result in the Outlook on the ratings also being revised to Stable.

The rating actions are as follows:

Long-Term Foreign Currency IDR: 'BBB-'; Outlook Negative, unaffected
Long-Term Local Currency IDR: assigned at 'BBB-', Outlook Negative
Short-Term Foreign Currency IDR: 'F3', unaffected
National Long-Term Rating: 'AAA(rus)'; Outlook Stable, unaffected
Viability Rating: 'bbb-', unaffected
Support Rating: '2', unaffected
Share:
Issuer: KB Citibank
Outstanding issues:
Issuer rating:
ACRAAAA(RU)/StableACRA national rating scale for the Russian Federation07/06/2017
Fitch RatingsBBB-/PositiveLT Int. Scale (foreign curr.)09/28/2017
Fitch RatingsWithdrawn/National Scale (Russia)01/27/2017
Fitch RatingsBBB-/PositiveLT Int. Scale (local curr.)09/28/2017
minimizeexpand
150 000
issues: local and international bonds
170
countries
+7 812 336 97 21
pro@cbonds.info
150 000
issues: local and international bonds
170
countries
Сbonds is a global Fixed income data platform
+7 812 336 97 21
pro@cbonds.info
Data
  • Descriptive data on bonds
  • Bond Quotes from trading systems and market participants
  • Prospectuses and other issue documents
  • Credit ratings
  • Indices and indicators
  • Market news and analytical research
Analytical instruments
  • Multi-parameter bond database search
  • Bond Maps
  • Market calendar
  • Bond calculator
  • Watchlist and Portfolio management
  • Chart analysis
  • Mobile App and Excel Add-in Tool
Enter or RegisterSubscription/Trial access