Fitch boosts Citigroup

Fitch Ratings said it has upgraded the individual and trust preferred ratings of Citigroup Inc. and its subsidiaries and removed them from rating watch positive as follows:

• Individual to C/D from D/E; and

• Trust preferred to BB- from B;

In addition, Fitch said it has affirmed the following ratings: long-term issuer default rating at A+; short-term issuer default rating at F1+; support rating at 1; and support rating floor at A+.

According to the agency, these rating actions follow the announcement of Citi's plan to repay trust preferred stock held by the U.S. government.

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