Standard&Poor's Ratings Services affirmed its 'AAA/A-1', 'AAA', and 'AAA' ratings on Deutsche Bank Securities Inc.'s series DBE-1286 short puttable exempt adjustable receipts (SPEARs), long inverse floating exempt receipts (LIFERs), and custodial receipts, respectively, relating to West Contra Costa Unified School District, Calif.'s series 2005D-2 general obligation bonds. The affirmation reflects a deposit of additional bonds into the trust. The long-term component of the ratings on the SPEARs and LIFERs is based on the rating on the custodial receipts, whose rating is based jointly (assuming low correlation) on the 'AA-' rated underlying bonds and a guarantee provided by Deutsche Bank AG. The short-term component of the rating on the SPEARs is based on a liquidity provided by Deutsche Bank
