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  • Fitch upgrades Citigroup Inc. (NYSE:C) Taiwan Credit ratings

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    Saturday June 4, 2011 at 02:03 pm EST
    Fitch upgrades Citigroup Inc. (NYSE:C) Taiwan Credit ratings
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    Fitch Ratings said Today that it has upgraded the credit rating of Citibank Taiwan, a subsidiary of Citigroup Inc. (NYSE:C) based on its strong bottom line and high potential for growth.

    In a statement, the rating company said it upgraded the bank's long-term foreign currency issuer default rating (IDR) to "A+" from "A" and its short-term foreign currency IDR to "F1+" from "F1."

    Fitch also raised the bank's national long-term rating to "AAA (twn) " from

    Shares of Citigroup Inc. (NYSE:C) closed at $39.85 on Friday amidst fears of double dip in the housing market. Major support levels for Citigroup Inc. (NYSE:C) below current price are at $38.9 and at $37.3. Resistance levels for Citigroup Inc. (NYSE:C) are at $41.43, $42.74, $44.21 and at $45.12.

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