Summary: Citigroup Global Markets ROCs/ROLs II-R Trust Series 11988; Residual Certificates; Tender Option Certificates/Bonds Oct 11

Standard & Poors, October 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AA/A-1' and 'AA' ratings to Citigroup Global Markets ROCs/ROLs II-R Trust's series 11988, relating to Michigan Finance Authority's (Trinity Health Credit Group) hospital revenue and refunding bonds series 2011MI. The long-term component of the rating on the ROCs and ROLs is based on the rating on the underlying bonds (AA). 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...

Companies mentioned in this report are:
- Michigan Fin Auth
- 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 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.

- Michigan Fin Auth
- Citigroup Global Markets ROCs/ROLs II-R Tr

Customers who bought this item also bought

• Aerospace and Defence Industry - Global Strategic Business Report
• Defense Robotics - Global Strategic Business Report
• Electronic Warfare Systems - Global Strategic Business Report
• Asia – Smart Weapons Markets and Technologies Outlook – 2013-2020
• Global Airborne ISR – Platforms and Payloads – Markets and Technologies Outlook – 2013-2020
• Private Tutoring - Global Strategic Business Report
• Commercial And Military Flight Simulation - Global Strategic Business Report
• eLEARNING - Global Strategic Business Report
• Education Services - Global Strategic Business Report
• Europe – Smart Weapons Markets and Technologies Outlook – 2013-2020