S&P ups Citizens to stable

Standard & Poor's said it revised the outlooks to stable from negative on Citizens Financial Group Inc.'s main bank subsidiary RBS Citizens NA and its smaller bank subsidiary Citizens Bank of Pennsylvania.

The agency also said it affirmed the A- long-term counterparty credit ratings on these bank subsidiaries.

The outlook revision reflects expectations that Citizens' asset quality and earnings performance will continue to improve in 2011, reflecting the seasoning of troubled loans and generally improving economic trends, S&P said.

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