City National Bank -- Moody's downgrades City National (senior A3); outlook is stable

New York, January 29, 2014 -- Moody's Investors Service downgraded the long-term ratings of City National Corporation and its operating subsidiary, City National Bank. The senior unsecured and issuer ratings of City National Corporation were downgraded to A3 from A2. City National Bank's stand-alone bank financial strength rating (BFSR)/baseline credit assessment (BCA) was changed to C+/a2 from B-/a1 and its long-term deposit rating was downgraded to A2 from A1. The short-term ratings were affirmed at Prime-1 and were not under review. Following the rating action, City National's rating outlook is stable. This concludes the review for possible downgrade that began on October 29, 2013.

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