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S&P Global Ratings withdraws ratings on Citibank Japan

S&P Global Ratings affirmed and withdrew the ratings of Citibank Japan Ltd. at the request of the bank.

The Citigroup Inc. unit made the request following the completion of a planned transfer of all of its banking operations to a Tokyo branch of Citibank NA.

Prior to withdrawal, S&P Global Ratings affirmed the bank's long- and short-term counterparty ratings at A+ and A-1 with a stable outlook on the long-term rating.

Earlier, Moody's also withdrew all ratings of Citibank Japan.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.