Summary: The Eagle Tax-Exempt Trust (Series 20170004); Tender Option Certificates/Bonds

March 9, 2017 20170004 Metropolitan Transportation Authority, N.Y. series 2015D-1 transportation revenue refunding bonds Citibank N.A. The Eagle Tax-Exempt Trust (Series 20170004) Citigroup Global Markets Inc. S&P Global Ratings assigned the above-mentioned ratings to the floater receipts, reflecting S&P Global Ratings opinion of the likelihood the trust will have sufficient assets to pay timely interest and full principal when due on the receipts. Trust assets include all distributions of principal; interest; and premiums, if any, from the underlying securities and the tender-option provider, which is in place to support tender payments on the floaters. The long-term component of our rating on the floaters reflects the ratings on the underlying securities and addresses full and timely interest and principal payments when

...S&P Global Ratings assigned the above-mentioned ratings to the floater receipts, reflecting S&P Global Ratings opinion of the likelihood the trust will have sufficient assets to pay timely interest and full principal when due on the receipts. Trust assets include all distributions of principal; interest; and premiums, if any, from the underlying securities and the tender-option provider, which is in place to support tender payments on the floaters. The long-term component of our rating on the floaters reflects the ratings on the underlying securities and addresses full and timely interest and principal payments when receipt holders have not exercised the put option. The short-term component reflects the lower of our rating on the tender-option provider and the short-term equivalent of our rating on the underlying security. The short-term rating addresses full and timely interest and principal payments when receipt holders exercise the put option....

Summary