Citigroup Global Markets Reset Option Certificates II-R Trust Series 4547, relating to Austin, Texas (Travis and Williamson Counties) public improvement bonds series 2001, are rated 'AA+/A-1+'. The long-term component of the rating is based on the underlying bonds. The short-term component of the rating is based on a liquidity facility provided by Citigroup Global Markets Holdings Inc. until Dec. 16, 2004. Citigroup Global Markets Reset Option Longs II-R Trust Series 4547, relating to Austin, Texas (Travis and Williamson Counties) public improvement bonds series 2001, are rated 'AA+'. The rating is based on the underlying bonds. 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
