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Summary: Salomon Smith Barney ROCs/ROLs II-R Trust's Series 178 Ratings Placed On Watch Negative; Residual Certificates; Tender Option Certificates/Bonds Aug 11
Standard & Poors, August 2011
Standard & Poor's Ratings Services placed its ratings on Salomon Smith Barney ROCs/ROLs II-R Trust's series 178, relating to Texas Department of Housing & Community Affairs' single-family mortgage revenue bonds series 2002A and 2002B, on CreditWatch with negative implications. This action follows Standard & Poor's July 15, 2011, placement of its rating on the underlying bonds on CreditWatch with negative implications. The long-term component of the rating on the ROCs and ROLs is based on the rating on the underlying bonds (CUSIP #s: 88275FFC8, 88275FE4). The short-term component of the rating on the ROCs is based on the liquidity facility provided by Citibank N.A. USPF Criteria: Secondary Market Derivative Products, June 27, 2007...
Companies mentioned in this report are: Texas Dept of Hsg & Comnty Affairs,Salomon Smith Barney ROCs/ROLs II-R Tr
Action: On CreditWatch:Negative
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Texas Dept of Hsg & Comnty Affairs,Salomon Smith Barney ROCs/ROLs II-R Tr