Standard & Poor's Corp.

Standard & Poor's Corp. lowered its ratings on Citicorp after the bank announced its third quarter results, cutting its senior debt rating to A-minus from A-plus. The subordinated debt rating was cut from A to BBB-plus.

But Moody's Investors Service affirmed its ratings because they already reflected the likelihood of more bad news from the bank, according to Mara Hilderman, a senior bank analyst.

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