Fitch rates AO Citibank

Fitch Ratings said it assigned a long-term local-currency issuer default rating of BBB- on AO Citibank with a negative outlook.

The bank’s long-term local-currency issuer default rating is equalized with the bank's long-term foreign-currency issuer default rating, which is underpinned by potential support the bank may receive from its foreign parent, Citigroup Inc., Fitch said.

The issuer default ratings are constrained by Russian country risks and in line with the Russian sovereign ratings, the agency said.

The negative outlook reflects the potential for the rating to be downgraded if Russia's sovereign ratings are downgraded, Fitch said.

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