Standard & Poor's Ratings Services assigned its 'AAA/A-1+' and 'AAA' ratings to Deutsche Bank Securities Inc. short puttable exempt adjustable receipts (SPEARs) and long inverse floating exempt receipts (LIFERs), respectively, issued under trust series DB-405, relating to Illinois Finance Authority revenue bonds (Bradley University Project) series 2007A. The long-term component of the SPEARs rating is based on the 'AAA' rated, XL Capital-insured Illinois Finance Authority revenue bonds (Bradley University Project) series 2007A. The short-term component of the rating is based on a standby purchase agreement (SPA) provided by Deutsche Bank AG (A-1+). The rating on the LIFERs is based on the 'AAA' rated, XL Capital-insured Illinois Finance Authority revenue bonds (Bradley University Project) series 2007A.The program is structured such that...
Companies mentioned in this report are:
- Bradley Univ
- Illinois Finance Authority
- Deutsche Bank Securities Inc Rcpts
Action: New Rating
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