Summary: Arizona Transp Brd

Citigroup Global Markets Reset Option Certificates II-R Trust Series 425, relating to Arizona Transportation Board highway revenue refunding bonds series 2005 A, are rated 'AAA/A-1+'. The long-term component of the rating is based on the 'AAA' rated underlying bond. The short-term component of the rating is based on a liquidity facility provided by Citigroup Global Markets Holdings Inc. until Dec. 7, 2005. Citigroup Global Markets Reset Option Longs II-R Trust Series 425, relating to Arizona Transportation Board highway revenue refunding bonds series 2005 A, are rated 'AAA'. The rating is based on the 'AAA' rated underlying bond.

...Citigroup Global Markets Reset Option Certificates II-R Trust Series 425, relating to Arizona Transportation Board highway revenue refunding bonds series 2005 A, are rated '###/A-1+'. The long-term component of the rating is based on the '###' rated underlying bond. The short-term component of the rating is based on a liquidity facility provided by Citigroup Global Markets Holdings Inc. until Dec. 7, 2005. Citigroup Global Markets Reset Option Longs II-R Trust Series 425, relating to Arizona Transportation Board highway revenue refunding bonds series 2005 A, are rated '###'. The rating is based on the '###' rated underlying bond. Complete ratings information is available to subscribers of RatingsDirect, Standard & Poor's Web-based credit analysis system, at www.ratingsdirect.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com; under Credit Ratings in the left navigation bar, select Find a Rating, then Credit Ratings...

Summary