Fitch Ratings assigns an ‘AA’ rating to the following Citigroup custodial receipts:
-series 2008-11177WFZ;
-series 2008-11180WF;
-series 2008-11185WF.
Each ‘AA’ rating is based on the credit enhancement provided by Wells Fargo & Company (rated ‘AA/F1+’) securing the custodial receipts deposited into the Citigroup Trust II-R series 11177WFZ, series 11180WF and series 11185WF.
Fitch also assigns a rating of ‘AA/F1+’ to the Reset Option Certificates (ROCs) and a rating of ‘AA’ to the Reset Option Longs (ROLs) each of the series 11177WFZ, series 11185WF and series 11185WF. The ‘AA’ long-term ratings assigned to the ROCs and ROLs are based on the ratings that Fitch has assigned to the custodial receipts deposited in the trust series described above.
The short-term ‘F1+’ ratings assigned to the ROCs are based on the liquidity facilities provided by Wells Fargo & Company for each series. The short-term ratings will expire on Jan. 15, 2010 with respect to the series 11177WFZ ROCs and June 15, 2009 with respect to the series 11180WF and 11185WF ROCs, unless such dates are extended or earlier terminated.
L.D.