DBRS: Citigroup unchanged

DBRS said Citigroup Inc.'s issuer and senior debt rating of A and its R-1 (middle) short-term rating remain unchanged following the company's release of its third-quarter earnings.

Citigroup's ratings reflect its status as a critically important banking organization in the United States, which benefit from a floor rating of A for bank holding companies and A (high) for banks with short-term ratings of R-1 (middle).

The trend is stable.

Citigroup's results again highlight the company's ability to sustain operating revenues and income before provisions and taxes at levels that enable it to deal with still-elevated, albeit declining, credit costs, as well as the burden of legacy assets, the agency said.

This underlying earnings resiliency is an important underpinning for DBRS's A (low) intrinsic assessment for Citigroup, the agency said.

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