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Fitch Rates Citigroup ROCs and ROLs Series 14037

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings assigns the following ratings to Citigroup Global Markets, Inc. Reset Option Certificates II-R (ROCs) and Reset Option Longs II-R (ROLs) listed below:

--Series 14037 ROCs -- 'AA-/F1', Stable Outlook; Series 14037 ROLs -- 'AA-', Stable Outlook.

The long-term 'AA-', Stable Outlook ratings assigned to the series 14037 ROCs and ROLs are based on the rating that Fitch has assigned to Metropolitan Transportation Authority Dedicated Tax Fund Refunding Bonds, Series 2012A (rated 'AA-', Stable Outlook) that have been deposited in the series 14037 trust.

The 'F1', short-term rating assigned to the ROCs is based on the liquidity facility provided by Citibank, N.A. (rated 'A/F1', Stable Outlook) in the form of a shortfall liquidity swap agreement. The short-term rating assigned to the ROCs will expire on Sept. 15, 2013, the expiration date of the liquidity facility, unless each date is extended or earlier terminated.

Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

--'U.S. Municipal Structured Finance Criteria', Feb. 28, 2012;

--'Guidelines for Rating Tender Option Bonds', May 10, 2012.

Applicable Criteria and Related Research:

U.S. Municipal Structured Finance Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=672570

Guidelines for Rating Tender Option Bonds

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=678533

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Fitch Ratings
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Source: Fitch Ratings