Fitch Rates Citigroup ROCs and ROLs Series 14062

  Fitch Rates Citigroup ROCs and ROLs Series 14062

Business Wire

NEW YORK -- June 27, 2013

Fitch Ratings assigns the following ratings to the series of Citigroup Global
Markets, Inc. Reset Option Certificates II-R (ROCs) and Reset Option Longs
II-R (ROLs) listed below:

--Series 14062 ROCs 'AA/F1', Stable Outlook;

--Series 14062 ROLs 'AA', Stable Outlook.

KEY RATING DRIVERS

The long-term 'AA', Stable Outlook ratings assigned to the series 14062 ROCs
and ROLs are based on the rating that Fitch has assigned to the University of
Massachusetts Building Authority project revenue bonds, senior series 2013-1
(rated 'AA', Stable Outlook) that have been deposited in the series 14062
trust.

The 'F1' short-term rating assigned to the ROCs is based on the liquidity
facility provided by Citibank, N.A. (rated 'A/F1', Stable Outlook) in the form
of a shortfall liquidity swap agreement. The short-term rating assigned to the
ROCs will expire on June 15, 2014, the expiration date of the liquidity
facility, unless such date is extended or earlier terminated.

RATING SENSITIVITIES

The short-term rating assigned to the ROCs reflects the short-term rating that
Fitch maintains on the bank providing liquidity support and will be adjusted
upward or downward in conjunction with the short-term rating of the bank, and,
in some cases, the long-term rating of the underlying bonds deposited in the
trust. The long-term ratings assigned to the ROCs and ROLs are exclusively
tied to the creditworthiness of the underlying bond deposited in the trust and
will reflect all changes to that rating.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'U.S. Municipal Structured Finance Criteria', Feb. 27, 2013;

--'Guidelines for Rating Tender Option Bonds', May 9, 2013.

Applicable Criteria and Related Research:

U.S. Municipal Structured Finance Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=701570

Guidelines for Rating Tender Option Bonds

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=707849

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=794854

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ON THE FITCH WEBSITE.

Contact:

Fitch Ratings
Primary Analyst
Richard Park, +1-212-908-0289
Director
Fitch Ratings, Inc.
One State Street Plaza
New York, NY 10004
or
Secondary Analyst
Trudy Zibit, +1-212-908-0689
Managing Director
or
Committee Chairperson
Mario Civico, +1-212-908-0796
Senior Director
or
Media Relations
Sandro Scenga, +1-212-908-0278
sandro.scenga@fitchratings.com
 
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