Fitch Rates the Eagle Tax-Exempt Trust Series 20120013 to 20120015

NEW YORK--()--Fitch Ratings assigns the following ratings to the series of The Eagle Tax-Exempt Trust Class A Certificates and Class B Certificates listed below:

--Class A Certificates Series 20120013 'AA-/F1'; Stable Outlook; Class B Certificates Series 20120013 'AA-'; Stable Outlook;

--Class A Certificates Series 20120014 'AA+/F1'; Stable Outlook; Class B Certificates Series 20120014 'AA+'; Stable Outlook;

--Class A Certificates Series 20120015 'AA+/F1'; Stable Outlook; Class B Certificates Series 20120015 'AA+'; Stable Outlook.

The long-term 'AA-' rating with a Stable Outlook assigned to the series 20120013 Class A and B Certificates are based on the rating that Fitch has assigned to Miami-Dade County, Florida Transit System Sales Surtax Revenue Bonds Series 2006 (rated

'AA-'; Stable Outlook) that have been deposited in the series 20120013 Eagle Tax-Exempt Trust.

The long-term 'AA+'; Stable Outlook ratings assigned to the series 20120014 Class A and B Certificates are based on the rating that Fitch has assigned to City of Los Angeles Wastewater System Revenue Bonds, Refunding Series 2005-A (rated 'AA+'; Stable Outlook) that have been deposited in the series 20120014 Eagle Tax-Exempt Trust.

The long-term 'AA+'; Stable Outlook ratings assigned to the series 20120015 Class A and B Certificates are based on the rating that Fitch has assigned to San Francisco Bay Area Rapid Transit District General Obligation Bonds (Election of 2004), 2007 Series B (rated 'AA+'; Stable Outlook) that have been deposited in the series 20120015 Eagle Tax-Exempt Trust.

The 'F1', short-term ratings assigned to the Class A Certificates are based on the liquidity facilities provided by Citibank, N.A. (rated 'A/F1'; Stable Outlook). The short-term ratings assigned to the Class A Certificates will expire on Dec. 1, 2013, the expiration date of the liquidity facilities, unless each date is extended or earlier terminated.

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 Criteria' (Feb. 28, 2012);

--'Guidelines for Rating Tender Option Bonds' (May 10, 2012).

Applicable Criteria and Related Research:

U.S. Municipal Structured Finance Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=672570

Guidelines for Rating Tender Option Bonds

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=678533

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.

Contacts

Fitch Ratings
Primary Analyst:
Richard Park, +1-212-908-0289
Director
Fitch, Inc.
One State Street Plaza
New York, NY 10004
or
Secondary Analyst:
Trudy Zibit, +1-212-908-0689
Managing Director
or
Committee Chairperson:
Linda Friedman, +1-212-908-0727
Senior Director
or
Elizabeth Fogerty, +1-212-908-0526
Media Relations, New York
elizabeth.fogerty@fitchratings.com

Sharing

Contacts

Fitch Ratings
Primary Analyst:
Richard Park, +1-212-908-0289
Director
Fitch, Inc.
One State Street Plaza
New York, NY 10004
or
Secondary Analyst:
Trudy Zibit, +1-212-908-0689
Managing Director
or
Committee Chairperson:
Linda Friedman, +1-212-908-0727
Senior Director
or
Elizabeth Fogerty, +1-212-908-0526
Media Relations, New York
elizabeth.fogerty@fitchratings.com