Summary: Citigroup Global Markets ROCs/ROLs II-R Trust Series 11908; Residual Certificates; Tender Option Certificates/Bonds Feb 11
- ID: 1718036
- February 2011
- Region: Global
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA/A-1' and 'AA' ratings to Citigroup Global Markets ROCs/ROLs II-R Trust's series 11908, relating to Connecticut's general obligation refunding bonds series 2010C. The long-term component of the rating is based on the underlying bonds (AAA). The short-term component of the rating is based on a liquidity facility provided by Citibank N.A. (A-1). The short-term component of the rating on the ROCs is based on a shortfall liquidity swap agreement, where the swap counterparty is Citibank N.A. (A-1). Optionally tendered ROCs that are not remarketed will be purchased from the proceeds of the sale of a pro rata amount of bonds, and to the extent such proceeds are insufficient to pay the tendered price,...
Companies mentioned in this report are:
- Citigroup Global Markets ROCs/ROLs II-R Tr
Action: New Rating
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