...Standard & Poor's Ratings Services assigned its '##/A-1' and '##' 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 (##). 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, and to the extent such proceeds are insufficient to pay the tendered price, the tender agent shall draw upon the shortfall liquidity swap agreement. Upon certain mandatory ROCs tender events that are fully detailed in the master terms of...
