Standard&Poor's Ratings Services assigned its 'AA (sf)/A-1 (sf)' rating to Eagle Tax-Exempt Trust's series 20140005 17G-5 class A certificates of participation, relating to California Educational Facilities Authority's (University of Southern California) series 2007A revenue bonds. The long-term component of the rating is based on the 'AA' rated underlying asset. The short-term component of the rating is based on the rating on the liquidity facility provider, Citibank N.A. (A-1). 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 representations, warranties and enforcement mechanisms available to investors and a description of how they differ from the representations, warranties and enforcement
