Citizens Banking Corporation Receives Ratings From Moody's Investors Service.Business Editors FLINT, Mich.--(BUSINESS WIRE)--Feb. 14, 2002 Citizens Banking Corporation (Nasdaq:CBCF CBCF Canadian Breast Cancer Foundation CBCF Congressional Black Caucus Foundation CBCF Community Based Corrections Facilities CBCF Commander, Base Communications Facility ) announced that the Corporation and its two largest banking subsidiaries, Citizens Bank, Michigan, and F&M Bank-Wisconsin, have requested and received ratings from Moody's Investors Service Moody's Investors Service A leading global credit rating, research and risk analysis firm. Moody's Investors Service A leading firm engaged in credit rating, risk analysis, and research of fixed-income securities and their issuers. . Both banks are rated "A3" (long term) and "P-2" (short term) and have Bank Financial Strength Ratings of "C", and the Corporation's long and short term ratings are "Baa1" and "P-2", respectively. John W. Ennest, Vice Chairman and Chief Financial Officer, remarked that this designation of investment grade ratings will serve to underscore for each of the three entities the capacity to meet its financial commitments. This independent, third party opinion of the creditworthiness Creditworthiness The condition in which the risk of default on a debt obligation by that entity is deemed low. Creditworthiness Eligibility of an individual or firm to borrow money. of the Corporation and its banks should give both existing and prospective clients additional confidence in their dealings with the Corporation. Citizens Banking Corporation is a diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services company providing a full range of commercial, consumer, mortgage banking, trust and financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against services to a broad client base. Citizens operates 201 branch, private banking, and financial center locations throughout Michigan, Wisconsin, Iowa, and in suburban Chicago, Illinois. Visit our Web site at http://www.citizensonline.com |
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