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Summary: Deutsche Bank Securities Inc. Receipts Series DBE-1092; Joint Criteria; Residual Certificates; Tender Option Certificates/Bonds Jul 12
Standard & Poors, July 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), respectively, series DBE-1092, relating to custodial receipts series DBE-1092, relating to Ohio's hospital revenue (University Hospital Health Systems Inc.) 5.00% term bonds series 2012A. The long-term component of the rating on the SPEARs and LIFERs is based on a custodial receipt whose rating is based jointly (assuming low correlation) on enhancement of the underlying bonds provided by Deutsche Bank AG (A+/A-1) and the rating on the underlying bonds. The short-term component of the rating on the SPEARs is based on a standby purchase agreement (SPA) provided by Deutsche Bank AG...
Companies mentioned in this report are: Ohio,Deutsche Bank Securities Inc Rcpts (Series 1000)
Action: New Rating
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Ohio,Deutsche Bank Securities Inc Rcpts (Series 1000)