Moody’s Investors Service (“Moody’s”) advised on July 7, 2010 that it has withdrawn its rating on Citizens Property Insurance Corporation’s (“Citizens”) Senior Secured Bonds Series 2010A-4 Federally Taxable (LIBOR Floating Rate Notes), inasmuch as Citizens had planned to issue four sub-series of bonds, but ended up issuing only three. The A-4 bonds were therefore not sold.

The principal methodology used in rating Citizens’ current issue was “Moody’s Guidelines for the Withdrawal of Ratings.”

Moody’s most recent rating action with respect to Citizens was on March 5, 2010, when a municipal rating of A2 and a stable outlook was assigned to the Citizens Senior Secured Bonds Series 2010A-4 Federally Taxable (LIBOR Floating Rate Notes). That rating was subsequently recalibrated in place to A2 with a stable outlook on April 16, 2010.

A long-term rating of A2 had been assigned to the Senior Secured Bonds and Variable Rate Senior Secured Bonds, with a rating of MIG 1 to the Short-Term Notes.  Citizens subsequently added the additional sub-series 2010A-4 Federally Taxable (LIBOR Floating Rate Notes) to the transaction. The par amounts of the other three sub-series were then all adjusted down slightly with the overall total amount still being approximately $2 billion.