Fitch Withdraws Ratings of Citigroup Funding Inc. on Merger into Citigroup Inc.

NEW YORK--(BUSINESS WIRE)--Fitch Ratings has withdrawn the Issuer Default Ratings (IDRs) of Citigroup Funding Inc. (CFI), a wholly-owned subsidiary of Citigroup Inc. CFI was merged into Citigroup Inc. effective Dec. 31, 2012. The merger is part of an ongoing corporate simplification process to centralize the debt issuance platforms of Citi and its subsidiaries.

Citigroup previously guaranteed all of the payment obligations of CFI, and will assume all existing outstanding indebtedness of CFI, including commercial paper and medium-term notes. There are no other changes made to terms and conditions of the notes.

The following ratings are withdrawn:

Citigroup Funding Inc.

Long-term IDR of 'A';

Short-term IDR of 'F1'.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Global Financial Institutions Rating Criteria' (Aug. 15, 2012);

--'Securities Firms Criteria' (Aug. 15, 2012);

--'Rating FI Subsidiaries and Holding Companies' (Aug. 10, 2012).

Applicable Criteria and Related Research:

Rating FI Subsidiaries and Holding Companies

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679209

Securities Firms Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=686137

Global Financial Institutions Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=686181

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