Fitch Upgrades Deutsche Bank SPEARs/LIFERs Trust (NY) DBE-289 to 'AA+'

NEW YORK--(BUSINESS WIRE)--Fitch Ratings upgrades the long-term ratings for the following Deutsche Bank SPEARs/LIFERs Trust, NY tender-option bonds to 'AA+' from 'A+':

--Custodial receipts series DBE-289A (gtd: Deutsche Bank AG);

--Custodial receipts series DBE-289B (gtd: Deutsche Bank AG);

--Long inverse floating exempt receipts (LIFERs) series DBE-289A (gtd: Deutsche Bank AG);

--Long inverse floating exempt receipts (LIFERs) series DBE-289B (gtd: Deutsche Bank AG);

--Short puttable exempt adj receipts (SPEARs) series DBE-289 (gtd and liquidity facility: Deutsche Bank AG).

The Rating Outlook remains Stable.

The long-term rating assigned to the bonds is based on the higher of the rating assigned by Fitch to the applicable credit enhancer providing support to the bonds and the rating assigned by Fitch to the underlying bond deposited in the trust.

Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

--'U.S. Municipal Structured Finance Rating Criteria', dated April 25, 2011.

--'Guidelines for Rating Tender Option Bond Securities', dated May 25, 2011.

Applicable Criteria and Related Research:

U.S. Municipal Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=624129

Guidelines for Rating Tender Option Bond Securities

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=632790

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