Standard&Poor's Ratings Services assigned its 'AA+/A-1' and 'AA+' ratings to Deutsche Bank Securities Inc.'s series DB-1269 short puttable exempt adjustable receipts (SPEARs) and long inverse floating exempt receipts (LIFERs), respectively, relating to San Antonio Public Facilities Corp., Texas' (San Antonio) series 2012 improvement and refunding lease revenue bonds, issued for the Convention Center Refinancing and Expansion Project. The long-term component of the ratings on the SPEARs and LIFERs is based on the 'AA+' rated underlying asset. The short-term component of the rating on the SPEARs is based on a standby purchase agreement (SPA) provided by Deutsche Bank AG. SEC Rule 17g-7 requires an NRSRO, for any report accompanying a credit rating relating to an asset-backed security as defined
