Summary: Citigroup Global Markets ROCs/ROLs II-R Trust Series 12047 Rating Off CreditWatch Negative; Residual Certificates; Tender Option Certificates/Bonds Jun 09

Standard & Poors, June 2009

Abstract
Standard & Poor's Ratings Services removed its rating on Citigroup Global Markets ROCs/ROLs II-R Series 12047, relating to Metropolitan Transportation Authority transportation revenue refunding bonds series 2002A, from CreditWatch with negative implications. This action follows Standard & Poor's removal of Financial Security Assurance Inc. from CreditWatch with negative implications The negative outlook is based on the bond insurer. USPF Criteria: "Secondary Market Derivative Products," June 27, 2007...

Companies mentioned in this report are:
- Metropolitan Transp Auth
- Citigroup Global Markets ROCs/ROLs II-R Tr

Action: Removed From CreditWatch

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Metropolitan Transp Auth
- Citigroup Global Markets ROCs/ROLs II-R Tr

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