Home Credit Ratings and Research Residential Mortgage-Backed Securities S&P Global Ratings’ Credit Research Philadelphia

Summary: Deutsche Bank Securities Inc. Receipts Series DBE-263 Ratings Raised To 'AAA/A-1' And 'AAA'; On Watch Negative; Custodial Receipts; Residual Certificates; Tender Option Certificates/Bonds

Published Jan 17, 2012

1467 words — Published Jan 17, 2012

Price US$ 225.00 | Buy this Report Now

About This Report

Abstract:

Standard&Poor's Ratings Services raised its ratings on Deutsche Bank Securities Inc. Receipts' short puttable exempt adjustable receipts (SPEARs) and long inverse floating exempt receipts (LIFERs) series DBE-263, relating to custodial receipts series DBE-263, relating to city of Philadelphia, Pa.'s gas works revenue (1998 General Ordinance) 5.00% seventh series bonds due Oct. 1, 2018 (non-amt), to 'AAA/A-1' and 'AAA' from 'BBB+/A-2' and 'BBB+', respectively, and placed them on CreditWatch with negative implications. The long-term component of the rating on the SPEARs and LIFERs is based on the rating on the custodial receipts series DBE-263. The short-term component of the rating on the SPEARs is based on a standby bond purchase agreement (SBPA) provided by Deutsche Bank AG (A-1). At

Brief Excerpt:

RESEARCH Summary: Deutsche Bank Securities Inc. Receipts Series DBE-263 Ratings Raised To '###/A-1' And '###'; On Watch Negative; Custodial Receipts; Residual Certificates; Tender Option Certificates/Bonds Publication date: 17-Jan-2012...

Report Type:

Summary

Issuer

Philadelphia

Sector

Global Issuers, Public Finance, Structured Finance

Country

United States

Region

United States

Format:

HTML

S&P Corrects By Reinstating Philadelphia, PA Gas Works Revenue Refunding Bond Rating To 'AA+/A-1' – 2012/01/23 – US$ 150.00

Philadelphia's Improving Finances Elevate GO Debt Rating To 'BBB+'; The Outlook Is Positive – 2012/04/03 – US$ 150.00

Philadelphia; General Obligation; General Obligation Equivalent Security; Joint Criteria – 2012/04/05 – US$ 500.00

Summary: Philadelphia; General Obligation; General Obligation Equivalent Security; Joint Criteria – 2012/04/05 – US$ 225.00

S&P Corrects Ratings On Philadelphia Authority For Industrial Development, PA's 2007B-1 Bonds To 'AAA/A-1' And 'BBB+' – 2012/04/30 – US$ 150.00

Summary: Deutsche Bank Securities Inc. Receipts Series DBE-247; Custodial Receipts; Residual Certificates; Tender Option Certificates/Bonds – 2011/12/27 – US$ 225.00

Summary: Deutsche Bank Securities Inc. Receipts Series DBE-340; Custodial Receipts; Residual Certificates; Tender Option Certificates/Bonds – 2011/12/27 – US$ 225.00

Summary: Philadelphia; Note – 2011/11/18 – US$ 225.00

Summary: Philadelphia, Pennsylvania; Joint Criteria; Water/Sewer – 2011/10/25 – US$ 225.00

Philadelphia, PA's Series 2011A And 2011B Water And Wastewater Revenue And Refunding Bonds Rated 'A' – 2011/10/21 – US$ 150.00

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author

Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Summary: Deutsche Bank Securities Inc. Receipts Series DBE-263 Ratings Raised To 'AAA/A-1' And 'AAA'; On Watch Negative; Custodial Receipts; Residual Certificates; Tender Option Certificates/Bonds" Jan 17, 2012. Alacra Store. May 16, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Deutsche-Bank-Securities-Inc-Receipts-Series-DBE-263-Ratings-Raised-To-AAA-A-1-And-AAA-On-Watch-Negative-Custodial-Receipts-Residual-Certificates-Tender-Option-Certificates-Bonds-931447>

APA:	S&P Global Ratings’ Credit Research. (). Summary: Deutsche Bank Securities Inc. Receipts Series DBE-263 Ratings Raised To 'AAA/A-1' And 'AAA'; On Watch Negative; Custodial Receipts; Residual Certificates; Tender Option Certificates/Bonds Jan 17, 2012. New York, NY: Alacra Store. Retrieved May 16, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Deutsche-Bank-Securities-Inc-Receipts-Series-DBE-263-Ratings-Raised-To-AAA-A-1-And-AAA-On-Watch-Negative-Custodial-Receipts-Residual-Certificates-Tender-Option-Certificates-Bonds-931447>

US$ 225.00

$ £ €

Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

Example Report

Click to View Sample Report

More Research

Search all our Residential Mortgage-Backed Securities from one place.