Summary: Ribco Trust Series 2006 P35 Jul 06

Standard & Poors, July 2006

Abstract
Ribco Trust floating rate trust receipts series 2006 FR-P35 are rated 'AA+/A-1'. The long-term component of the rating is based on the 'AA+' rated Pennsylvania Housing Finance Agency single family mortgage revenue bonds series 2002-73A (AMT). The short-term component of the rating is based on a liquidity facility provided by Lehman Liquidity Co. LLC secured by a line of credit from Lehman Brothers Holdings Inc. expiring April 1, 2033. Ribco Trust residual interest trust receipts series 2006 RI-P35 are rated 'AA+'. The rating is based on the 'AA+' rated Pennsylvania Housing Finance Agency single-family mortgage revenue bonds series 2002-73A (AMT)....

Companies mentioned in this report are: Pennsylvania Hsg Fin Agy,Ribco Tr
Action: New Rating

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Pennsylvania Hsg Fin Agy,Ribco Tr

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