Standard&Poor's Ratings Services assigned its 'AA+ (sf)/A-1 (sf)' rating to Eagle Tax-Exempt Trust's series 20140034 17-g5 class A certificates of participation, relating to Los Angeles' series A wastewater system revenue unrefunded bonds. The long-term component of the rating is based on the higher of the ratings on the underlying asset and the bond insurance provider, National Public Finance Guarantee Corp. (Currently, the rating on the underlying asset is 'AA+', and the rating on National Public Finance Guarantee Corp. is 'AA-' with a stable outlook.) The short-term component of the rating is based on the rating on the liquidity facility provider, Citibank N.A. SEC Rule 17g-7 requires an NRSRO, for any report accompanying a credit rating relating to an
