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Summary: Deutsche Bank Securities Inc. Receipts Series DBE-617; Custodial Receipts; Residual Certificates; Tender Option Certificates/Bonds Jan 12 Product Image

Summary: Deutsche Bank Securities Inc. Receipts Series DBE-617; Custodial Receipts; Residual Certificates; Tender Option Certificates/Bonds Jan 12

  • ID: 2038772
  • January 2012
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'AAA/A-1' and 'AAA' ratings to Deutsche Bank Securities Inc. Receipts' short puttable exempt adjustable receipts (SPEARs) and long inverse floating exempt receipts (LIFERs) series DBE-617, relating to San Francisco Airport Commission City and County, Calif.'s (San Francisco International Airport) second series revenue refunding bonds series 34E. The long-term component of the rating on the SPEARs and LIFERs are based on the rating on a custodial receipt. The rating on the custodial receipt is based jointly (assuming low correlation) on a swap agreement provided by Deutsche Bank AG and the rating on the underlying bonds. The short-term component of the rating on the SPEARs is based on a liquidity facility provided by Deutsche Bank...

Companies mentioned in this report are: San Francisco Intl Arpt,Deutsche Bank Securities Inc Rcpts
Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the READ MORE >

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San Francisco Intl Arpt,Deutsche Bank Securities Inc Rcpts

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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