Fitch Ratings assigns a ‘AA’ to Citigroup’s series 2008-884WFZ custodial receipts. The long-term ‘AA’ rating is based on the credit enhancement provided by Wells Fargo & Company (rated ‘AA/F1+’ by Fitch) securing the custodial receipts deposited into the Trust.
Fitch also assigns a rating of ‘AA/F1+’ to Citigroup’s reset option certificates (ROCs) and a rating of ‘AA’ to the company’s reset option longs (ROLs). The ‘AA’ long-term rating assigned to the ROCs and ROLs is based on the rating that Fitch has assigned to the custodial receipts deposited in the series 884WFZ Trust.
The short-term ‘F1+’ rating is based on the liquidity facility provided by Wells Fargo & Company. The short-term rating will expire on 15 January 2010, the expiration date of the liquidity facility, unless such date is extended or earlier terminated.
L.D.