Citigroup Inc.’s main banking unit had its debt outlook upgraded to stable from negative by Moody’s Investors Service as the ratings firm cited the lender’s efforts to improve its approach to risk.

“A sustained improvement in Citigroup’s risk culture is critical to the firm’s credit strength,” Moody’s said Tuesday in a report on the New York-based bank, the third-biggest in the U.S. by deposits. “The reorganization announced by CEO Michael Corbat on January 7 has been orderly. Moody’s believes there has been no interruption in Citigroup’s efforts to install an improved risk governance culture.”

Corbat replaced the ousted Vikram Pandit as chief executive officer in October. Moody’s kept the bank unit’s deposit rating at A3 and maintained the negative outlook on the Baa2 senior debt and Baa3 subordinated debt ratings of the parent company.