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Moody's on Feb. 27 downgraded Citigroup Inc.'s senior debt rating to A3 from A2 and the company's subordinated debt rating to Baa1 from A3.
The agency also downgraded the company's junior subordinated debt rating to Baa3 from A3 with a negative outlook and lowered the rating on preferred debt to Ca from Baa3.
Moody's confirmed the company's short-term rating at Prime-1.
The agency also lowered Citibank NA's deposits rating to A1 from Aa3 and affirmed its Prime-1 short-term rating. The bank's financial strength rating was confirmed at C- with a negative outlook, and its baseline credit assessment was downgraded to Baa2 from Baa1.
All the ratings have a stable outlook except for Citibank's bank...