The removal of Hamilton County, Ohio's bonds from CreditWatch follows the placement of Citibank N.A. on CreditWatch. The rating of Citibank was raised to `AA-' from `A+'. Citibank provides credit support for this issue in investment agreements that guarantee the interest rate earned on the debt service reserve and the bond fund for the life of the bonds. Other credit factors include: * FHA mortgage insurance under Section 232 of the National Housing Act; * Sufficiency of mortgage payments and investment earnings to meet full and timely debt service; * A debt service reserve, fully funded in accordance with the indenture and sufficient to meet all potential shortfalls in the event of a mortgage note default; and * An asset-to-liability
