Fitch affirms Citizens Financial

Fitch Ratings said it affirmed the long-term and short-term issuer-default ratings of Citizens Financial Group, Inc. and its subsidiaries at BBB+ and F2, respectively.

The outlook remains stable

The agency said the affirmation is supported by Citizens Financial’s stable and improving asset quality, conservative capital management and execution against transparent financial targets.

Fitch said the stable outlook reflects a balanced view of its earnings improvement and gradual convergence to higher rated peers, which is offset by higher than peer levels of loan growth in certain categories, which is evidence of a higher risk appetite than peers at this point in the credit cycle.

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