Standard&Poor's Ratings Services assigned its 'AAA/A-1+' and 'AAA' ratings to Deutsche Bank Securities Inc. short puttable exempt adjustable receipts (SPEARs) and long inverse floating exempt receipts (LIFERs), respectively, issued under Trust Series DB-247, relating to Philadelphia, Pa. gas works revenue bonds seventh series (1998 general ordinance). The long-term component of the SPEARs rating is based on the 'AAA' rated, AMBAC-insured Philadelphia, Pa. gas works revenue bonds seventh series (1998 general ordinance). The short-term component of the rating is based on a standby purchase agreement (SPA) provided by Deutsche Bank AG (A-1+). The rating on the LIFERs is based on the 'AAA' rated, AMBAC-insured Philadelphia, Pa. gas works revenue bonds seventh series (1998 general ordinance). The program is structured
