Fitch Withdraws Various Deutsche Bank SPEARs/LIFERs Trust Ratings

August 14, 2015 10:53 AM EDT

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has withdrawn the long- and short-term ratings of the following SPEARs and the long-term ratings of the following LIFERs and Custodial Receipts issued by Deutsche Bank SPEARs/LIFERs Trust:

-Deutsche Bank SPEARs/LIFERs Trust (NY) custodial receipts series DBE-328A;

-Deutsche Bank SPEARs/LIFERs Trust (NY) custodial receipts series DBE-328B;

-Deutsche Bank SPEARs/LIFERs Trust (NY) custodial receipts series DBE-476A;

-Deutsche Bank SPEARs/LIFERs Trust (NY) custodial receipts series DBE-442;

-Deutsche Bank SPEARs/LIFERs Trust (NY) custodial receipts series DBE-476B;

-Deutsche Bank SPEARs/LIFERs Trust (NY) custodial receipts series DBE-476D;

-Deutsche Bank SPEARs/LIFERs Trust (NY) custodial receipts series DBE-453;

-Deutsche Bank SPEARs/LIFERs Trust (NY) long inverse floating exempt receipts (LIFERs) series DBE-328A;

-Deutsche Bank SPEARs/LIFERs Trust (NY) long inverse floating exempt receipts (LIFERs) series DBE-328B;

-Deutsche Bank SPEARs/LIFERs Trust (NY) long inverse floating exempt receipts (LIFERs) series DBE-476A;

-Deutsche Bank SPEARs/LIFERs Trust (NY) long inverse floating exempt receipts (LIFERs) series DB-331A;

-Deutsche Bank SPEARs/LIFERs Trust (NY) long inverse floating exempt receipts (LIFERs) series DBE-476C;

-Deutsche Bank SPEARs/LIFERs Trust (NY) long inverse floating exempt receipts (LIFERs) series DBE-476E;

-Deutsche Bank SPEARs/LIFERs Trust (NY) long inverse floating exempt receipts (LIFERs) series DB-322A;

-Deutsche Bank SPEARs/LIFERs Trust (NY) long inverse floating exempt receipts (LIFERs) series DB-331C;

-Deutsche Bank SPEARs/LIFERs Trust (NY) long inverse floating exempt receipts (LIFERs) series DBE-476F;

-Deutsche Bank SPEARs/LIFERs Trust (NY) long inverse floating exempt receipts (LIFERs) series DB-300;

-Deutsche Bank SPEARs/LIFERs Trust (NY) long inverse floating exempt receipts (LIFERs) series DB-331E;

-Deutsche Bank SPEARs/LIFERs Trust (NY) long inverse floating exempt receipts (LIFERs) series DBE-476B;

-Deutsche Bank SPEARs/LIFERs Trust (NY) long inverse floating exempt receipts (LIFERs) series DBE-476D;

-Deutsche Bank SPEARs/LIFERs Trust (NY) long inverse floating exempt receipts (LIFERs) series DB-331B;

-Deutsche Bank SPEARs/LIFERs Trust (NY) long inverse floating exempt receipts (LIFERs) series DBE-442;

-Deutsche Bank SPEARs/LIFERs Trust (NY) long inverse floating exempt receipts (LIFERs) series DB-322B;

-Deutsche Bank SPEARs/LIFERs Trust (NY) long inverse floating exempt receipts (LIFERs) series DB-331D;

-Deutsche Bank SPEARs/LIFERs Trust (NY) long inverse floating exempt receipts (LIFERs) series DBE-453;

-Deutsche Bank SPEARs/LIFERs Trust (NY) long inverse floating exempt receipts (LIFERs) series DB-295;

-Deutsche Bank SPEARs/LIFERs Trust (NY) short puttable exempt adjustable receipts (SPEARs) series DBE-328;

-Deutsche Bank SPEARs/LIFERs Trust (NY) short puttable exempt adjustable receipts (SPEARs) series DBE-476;

-Deutsche Bank SPEARs/LIFERs Trust (NY) short puttable exempt adjustable receipts (SPEARs) series DB-300;

-Deutsche Bank SPEARs/LIFERs Trust (NY) short puttable exempt adjustable receipts (SPEARs) series DB-331;

-Deutsche Bank SPEARs/LIFERs Trust (NY) short puttable exempt adjustable receipts (SPEARs) series DBE-442;

-Deutsche Bank SPEARs/LIFERs Trust (NY) short puttable exempt adjustable receipts (SPEARs) series DB-322;

-Deutsche Bank SPEARs/LIFERs Trust (NY) short puttable exempt adjustable receipts (SPEARs) series DBE-453;

-Deutsche Bank SPEARs/LIFERs Trust (NY) short puttable exempt adjustable receipts (SPEARs) series DB-295.

Fitch has withdrawn the ratings because Deutsche Bank has chosen to stop participating in the rating process with respect to these securities. Therefore, Fitch will no longer have sufficient information to maintain the ratings. Accordingly, Fitch will no longer provide ratings or analytical coverage for these issuances.

Additional information is available on www.fitchratings.com

Applicable Criteria

Guidelines for Rating Tender Option Bonds (pub. 10 Apr 2015)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=864040

U.S. Municipal Structured Finance Criteria (pub. 23 Feb 2015)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=862222

Additional Disclosures

Dodd-Frank Rating Information Disclosure Form

https://www.fitchratings.com/creditdesk/press_releases/content/ridf_frame.cfm?pr_id=989480

Solicitation Status

https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=989480

Endorsement Policy

https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Fitch Ratings
Primary Analyst:
Richard Park
Director
+1-212-908-0289
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Secondary Analyst:
Linda Friedman
Senior Director
+1-212-908-0727
or
Committee Chairperson:
Joseph Staffa
Senior Director
+1-212-908-0829
or
Media Relations:
Alyssa Castelli, New York, +1 212-908-0540
Email: [email protected]

Source: Fitch Ratings



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