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Summary: Citigroup Global Markets ROCs/ROLs II-R Trust Series 11970; Residual Certificates; Tender Option Certificates/Bonds Jul 11

  • ID: 2038830
  • July 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 11970, relating to California Department of Water Resources' Central Valley Project water system revenue bonds series AH. The long-term component of the rating is based on the rating on the underlying bonds (AAA). The short-term component of the rating on the ROCs 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. Optionally tendered ROCs that are not remarketed will be purchased from the proceeds of the sale of a pro rata amount of bonds, and...

Companies mentioned in this report are:
- California Dept of Wtr Resources
- Citigroup Global Markets ROCs/ROLs II-R Tr

Action: New Rating

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Note: Product cover images may vary from those shown

- California Dept of Wtr Resources
- Citigroup Global Markets ROCs/ROLs II-R Tr

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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