Moody’s might upgrade Citigroup

Moody's Investors Service said it placed on review for upgrade all long-term ratings of Citigroup Inc. (senior debt at Baa1) as well as the ratings of its lead bank, Citibank NA (A1 for deposits) and some other subsidiaries.

The agency affirmed all short-term ratings and assessments of Citigroup and those subsidiaries.

“The review for upgrade reflects Citigroup's consistent execution in 2018, which is further solidifying the solvency profile of the bank,” Moody’s said in a news release.

“Citigroup's sweeping reengineering of the past decade has placed the bank on a sounder strategic footing with a narrower geographic footprint, and a more targeted institutional client and consumer customer base.

“As a result, Citigroup has strengthened its asset risk profile and improved the stability of its earnings compared to many of its peers with extensive capital markets operations,” the agency added.

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