Moody's affirms Citibank Korea

Moody's Investors Service said it affirmed Citibank Korea's deposit ratings.

The outlook is stable.

This affirmation follows the recent rating actions on Citigroup and its related entities.

Citibank Korea's Aa3 global local-currency deposit rating has remained unchanged despite the possible downgrade of parent Citibank, NA's B bank financial strength rating, Moody's said.

A lower bank financial strength rating would reduce the rating of the support provider for Citibank Korea. However, Citibank Korea's deposit rating also benefits from Korean systemic support, which Moody's said it believes to be very high.

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