Standard&Poor's Ratings Services assigned its 'AAA/A-1' and 'AAA' ratings to Deutsche Bank Securities Inc. Receipts (Series 1000)'s series DB-1351 short-puttable-exempt-adjustable receipts (SPEARs) and long-inverse-floating-exempt receipts (LIFERs) related to the New York State Dormitory Authority's series 2014C (tax-exempt) personal income tax revenue bonds (general purpose) (term bonds). The long-term component of the rating on the SPEARS and LIFERs reflects the rating on the underlying bonds. The short-term component of the rating on the SPEARS reflects the liquidity facility provided by Deutsche Bank AG, scheduled to expire on May 31, 2015. SEC Rule 17g-7 requires an NRSRO, for any report accompanying a credit rating relating to an asset-backed security as defined in the Rule, to include a description of the
