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Summary: Citigroup Global Markets ROCs/ROLs II-R Trust Series 11973; Residual Certificates; Tender Option Certificates/Bonds Jul 11 Product Image

Summary: Citigroup Global Markets ROCs/ROLs II-R Trust Series 11973; Residual Certificates; Tender Option Certificates/Bonds Jul 11

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

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 11973, relating to New York Transitional Finance Authority's building aid revenue bonds fiscal 2011 series S-2, subseries S-2A. The long-term component of the rating 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 rata amount of bonds,...

Companies mentioned in this report are:
- New York City Transitional 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 READ MORE >

- New York City Transitional Fin Auth
- Citigroup Global Markets ROCs/ROLs II-R Tr

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