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Summary: Citigroup Global Markets ROCs/ROLs II-R Trust Series 11925X; Residual Certificates; Tender Option Certificates/Bonds Mar 11 Product Image

Summary: Citigroup Global Markets ROCs/ROLs II-R Trust Series 11925X; Residual Certificates; Tender Option Certificates/Bonds Mar 11

  • Published: March 2011
  • Region: Global
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'AAA/A-1' and 'AAA' ratings to Citigroup Global Markets ROCs/ROLs II-R Trust's series 11925X, relating to Southern California Metropolitan Water District's water revenue bonds authorization series 2003B-1. 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 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 the bonds, and to the extent such proceeds are insufficient to pay the...

Companies mentioned in this report are:
- Southern California Metro Wtr Dist
- Citigroup Global Markets ROCs/ROLs II-R Tr

Action: New Rating

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 READ MORE >

- Southern California Metro Wtr Dist
- Citigroup Global Markets ROCs/ROLs II-R Tr

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