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Fitch drops RBS Citizen's Financial
Fitch Ratings said it downgraded the long-term and short-term issuer default ratings of RBS Citizen's Financial Group, Inc. (CFG) and its subsidiaries to BBB+/F2 from A-/F1.
The support rating of CFG and subsidiaries was also downgraded to 2 from 1 and its viability rating was affirmed at bbb+.
The outlook is stable.
Fitch said the downgrades follow CFG's parent, Royal Bank of Scotland Group plc, announcing its intention to fully divest of the company by 2016.
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