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Summary: Deutsche Bank Securities Inc. Receipts DBE-458; Custodial Receipts; Residual Certificates; Tender Option Certificates/Bonds Feb 12 Product Image

Summary: Deutsche Bank Securities Inc. Receipts DBE-458; Custodial Receipts; Residual Certificates; Tender Option Certificates/Bonds Feb 12

  • ID: 2048083
  • February 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-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

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 >

Palomar Pomerado Hlth Dist,Deutsche Bank Securities Inc Rcpts

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