Summary: Deutsche Bank Securities Inc. Receipts Series DBE-1096; Joint Criteria; Residual Certificates; Tender Option Certificates/Bonds Aug 12
- Language: English
- Published: August 2012
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-458, respectively, relating to Palomar Pomerado Health District's general obligation bonds, Election of 2004, series 2007A (5.00% Term Bonds due Aug. 1, 2032). The long-term component of the rating on the SPEARs and LIFERs are based on the rating on the custodial receipt series DBE-645. 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 SPEAERs is based on a liquidity facility provided...
Companies mentioned in this report are: Palomar Pomerado Hlth Dist,Deutsche Bank Securities Inc Rcpts
Action: New Rating
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Palomar Pomerado Hlth Dist,Deutsche Bank Securities Inc Rcpts