Fitch Ratings withdraws the 'A+/F1' ratings assigned to the series 4073 short puttable exempt adjustable receipts (SPEARs) and the 'A+' ratings assigned to the long inverse floating exempt receipts series DBE-326A-C (LIFERs) and custodial receipts series DBE-326A-C of Deutsche Bank SPEARs/LIFERs Trust.
Fitch has withdrawn the ratings because Deutsche Bank has chosen to stop participating in the rating process with respect to these securities. Therefore, Fitch will no longer have sufficient information to maintain the ratings. Accordingly, Fitch will no longer provide ratings or analytical coverage for issuances of the series DBE-326 Trust.
Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.
Applicable Criteria and Related Research:
--'U.S. Municipal Structured Finance Criteria', Feb. 28, 2012;
--'Guidelines for Rating Tender Option Bonds', May 10 2012.
Applicable Criteria and Related Research:
U.S. Municipal Structured Finance Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=672570
Guidelines for Rating Tender Option Bonds
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=678533
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Contacts:
Fitch Ratings
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Richard Park, +1-212-908-0289
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Managing
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or
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or
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Email: elizabeth.fogerty@fitchratings.com
