Fitch ups Citizens Bank short-term ratings

Fitch Ratings said it upgraded Citizens Bank, NA's short-term issuer default rating and its short-term deposit rating to F1 from F2 and removed the ratings from under criteria observation.

At the same time, Fitch upgraded Citizens Financial Group's short-term issuer default rating to F1.

No other ratings were affected by the action.

The under criteria observation had been assigned to the bank's short-term issuer default rating along with nine other North American banks on May 6, following the publication of Fitch's cross-sector criteria for short-term ratings on May 2, the agency said.

The new cross-sector short-term ratings criteria introduced changes to Fitch's correspondence table between long- and short-term ratings, Fitch said.

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