Standard&Poor's Ratings Services raised its rating on Eagle Tax-Exempt Trust's J series 720053010 class A certificates of participation, relating to the city of San Antonio, Texas' series 2005 water system revenue refunding bonds, to 'AA+ (sf)/A-1 (sf)' from 'AA (sf)/A-1 (sf)'. This action follows Standard&Poor's March 12, 2013, upgrade of its rating on the underlying bonds to 'AA+' from 'AA'. The long-term rating component is based on the rating on the underlying bonds (CUSIP #7964226U2). The short-term rating component is based on a liquidity facility 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, to include a description
