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Fitch Rates Citizens Republic Bancorp, Inc.'s Issuance Under the Treasury Capital Purchase Program

Mon. December 15, 2008; Posted: 04:13 PM
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CHICAGO, Dec 15, 2008 (BUSINESS WIRE) -- RBCAA | Quote | Chart | News | PowerRating -- Fitch Ratings has assigned a rating of 'BB+' to the $300 million in preferred stock, series A issued by Citizens Republic Bancorp, Inc. (CRBC, rated 'BBB-/F3' by Fitch) under the Treasury's Capital Purchase Program (CPP). The CPP is one of the U.S. Government programs established to help stabilize and restore confidence in the U.S. banking system. (For more on the CPP and other U.S. Government programs, see Fitch's reports 'TARP Impact Positive for Financial Institutions', dated Oct. 10, 2008, and 'US Government Programs Stabilize and Strengthen US Banks', dated Oct. 20, 2008). This preferred stock issuance represents 3% of CRBC's risk-weighted assets.

Ratings Assigned:

Citizens Republic Bancorp, Inc.

--Preferred stock, series A at 'BB+'.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.

SOURCE: Fitch Ratings

Fitch Ratings Doris E. Hoffmann, +1-312-368-2057 (Chicago) David Spring, +1-312-368-3194 (Chicago) Tyrene Frederick-Mack, +1-212-908-0540 (Media Relations, New York) tyrene.frederick-mack@fitchratings.com

For full details on Republic Bancorp Inc Cla (RBCAA) click here. Republic Bancorp Inc Cla (RBCAA) has Short Term PowerRatings of 6. Details on Republic Bancorp Inc Cla (RBCAA) Short Term PowerRatings is available at This Link.

    


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