S&P: Citizens Republic unaffected

Standard & Poor's said ratings on Citizens Republic Bancorp Inc. (BBB/negative/A-2) remain unchanged following the company's plans to raise $200 million.

Management also is writing off most of the remaining goodwill related to the commercial real estate portfolio acquired with Republic Bancorp in 2007.

S&P said that because the agency deducts goodwill from its capital calculations, the goodwill impairment does not meaningfully change capital assessment.

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