TEXT-S&P:Ratings on Citigroup funding unaffected by merger

Jan 02 - Standard & Poor's Rating Services today said that Citigroup's announced merger of Citigroup Funding Inc., an intermediate holding company, with Citigroup Inc., the ultimate parent, does not affect the ratings on any of the debt issues from Citigroup Funding Inc. The ratings on these issues were based on a full and unconditional guarantee from Citigroup Inc. Any debt issues outstanding under Citigroup Funding Inc. will be assumed by Citigroup Inc. (A-/Negative/A-2).