Salomon Smith Barney Reset Option Certificates II-R Trust Series 1031, relating to Minnesota GO state bonds, is rated 'AAA/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 Salomon Smith Barney Holdings Inc. until Oct. 31, 2003. Salomon Smith Barney Reset Option Longs II-R Trust Series 1031, relating to Minnesota GO state bonds, is rated 'AAA'. The rating is based on the underlying bonds.