Little is known about the fate of the equity buyers in Eureka Securitization - though, through non-confirmable market buzz, it appears the Parmalat receivables have been written down to some extent, and that Citigroup Inc. does not intend to pass the loss on to the expected loss investors. Again, non-confirmable.

Citigroup has declined to comment, and did not refer to the situation in its 8-K earnings preview released last week. Nor did the situation come up in the conference call that accompanied the 8-K.

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