Citigroup Units’ Outlook Cut to Negative by Moody’s

(Corrects description of Moody’s outlook in headline and first paragraph of a story published Oct. 16.)

Moody’s Investors Service expanded its negative outlook for Citigroup Inc. (C) to subsidiaries that the ratings company had previously deemed stable, citing the resignations today of Chief Executive Officer Vikram Pandit and Chief Operating Officer John P. Havens.

“The negative outlook reflects the risk that this unexpected management change will negatively affect Citigroup’s ongoing efforts to install improved risk-management practices throughout the firm,” the ratings firm said in a statement on the New York-based lender.

To contact the reporter on this story: Donal Griffin in New York at dgriffin10@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

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