Riftstone Trust Series 2017-2 C Certificates Assigned Rating

Stocks and Financial Services Press Releases Wednesday August 16, 2017 09:25
NEW YORK--16 Aug--S&P Global Ratings

NEW YORK (S&P Global Ratings) Aug. 15, 2017--S&P Global Ratings today assignedits 'A+' rating to Riftstone Trust Series 2017-2 C (the trust's) $25 milliontrust certificates series 2017-2 C due Nov. 14, 2018.

The rating reflects our opinion of the likelihood that the trust will havesufficient assets to pay timely interest and principal when due on thecertificates. These assets include the underlying securities, which compriseeither the floating-rate notes, due Nov. 9, 2018, issued by Citibank N.A.('A+'; C notes) or U.S. Treasury separate trading of registered interest andprincipal securities (STRIPS) due Oct. 31, 2018 ('AA+'). The STRIPS couldreplace the C notes at the option of Wells Fargo Bank N.A. (AA-/Negative/A-1+)upon an additional termination event described in the option agreement's

schedule, which Wells Fargo Bank N.A. entered into with the trust.

Our rating on the certificates depends on the lower of our ratings on theunderlying securities and our long-term issuer credit rating on the optionagreement counterparty, Wells Fargo Bank N.A. Based on our analysis, webelieve the trust's assets support the full and timely payment of allobligations on the certificates except in certain circumstances as describedin the transaction's structure.


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