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Fitch affirms Citibank Colombia's national ratings

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Fitch affirms Citibank Colombia's national ratings

Fitch Ratingssaid April 11 that it affirmed the long- and short-term national ratings of at AAA(col)and F1+(col), respectively.

The outlookis stable.

The rating isanchored on the support received by the bank from parent Citigroup Inc., as Fitch considers the Colombian operationstrategic within Citi's international business dynamics. Aside from this support,the unit benefits from technological synergies, risk control and best practicesof the group.

Even with Citi'sannouncement that it will sellits retail operations in Colombia, Fitch believes that it has the ability to financiallysupport its subsidiary and its willingness to do so will remain unchanged whileit still owns the bank.

According toFitch, Citibank Colombia is characterized by a conservative risk management witha high degree of integration with Citi's regional operations, improved operatingresults and credit quality, adequate liquidity and sufficient core capital for expectedgrowth in the coming years.