Standard&Poor's Ratings Services raised its rating on Eagle Tax-Exempt Trust's J series 720053003 class A certificates of participation, relating to the city of Los Angeles, Calif.'s wastewater system revenue refunding bonds series 2005A, to 'AA+ (sf)/A-1 (sf)' from 'AA (sf)/A-1 (sf)'. This action follows Standard&Poor's April 13, 2012, upgrade of its rating on the underlying bonds to 'AA+' from 'AA'. The long-term component of the rating is based on the rating on the underlying bonds (CUSIP #: 544652Y53). The short-term component of the rating is based on the liquidity provided by Citibank N.A. 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,
