Fitch Rates Eagle Tax-Exempt Class A and Class B Certificates Series 20160003 to 20160007

NEW YORK--()--Fitch Ratings a 'AA/F1', Stable Outlook rating and a 'AA', Stable Outlook rating to the class A and class B certificates series 20160003 to 20160007 issued by the Eagle Tax-Exempt Trusts.

KEY RATING DRIVERS

The long-term 'AA', Stable Outlook ratings assigned to the class A and class B certificates are based on the rating that Fitch has assigned to the Regional Transportation District (Colorado) Sales Tax Revenue Refunding Bonds (FasTracks Project), Series 2007A (rated 'AA', Stable Outlook) that have been deposited in the trusts.

The short-term 'F1' rating assigned to the class A certificates is based on the tender option provided by Citibank, N.A. (rated 'A+/F1', Stable Outlook) as tender option provider. The stated expiration date of the tender option provided by Citibank as tender option provider for the class A certificates is Sept. 1, 2017, unless such date is extended or earlier terminated.

RATING SENSITIVITIES

The short-term rating assigned to the class A certificates reflects the short-term rating that Fitch maintains on the tender option provider and will be adjusted upward or downward in conjunction with the short-term rating of the tender option provider, and, in some cases, the long-term rating of the underlying bonds deposited in the trusts. The long-term rating assigned to the class A certificates and class B certificates are exclusively tied to the creditworthiness of the underlying bonds deposited in the trusts and will reflect all changes to such rating.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria

Criteria for Rating Tender Option Bonds (pub. 07 Apr 2016)

https://www.fitchratings.com/site/re/879516

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

https://www.fitchratings.com/site/re/862222

Additional Disclosures

Dodd-Frank Rating Information Disclosure Form

https://www.fitchratings.com/creditdesk/press_releases/content/ridf_frame.cfm?pr_id=1012047

Solicitation Status

https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=1012047

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.

Contacts

Fitch Ratings
Primary Analyst:
Richard Park
Director
+1-212-908-0289
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Secondary Analyst:
Mario Civico
Senior Director
+1-212-908-0796
or
Committee Chairperson:
Joseph Staffa
Senior Director
+1-212-908-0829
or
Media Relations:
Elizabeth Fogerty, +1-212-908-0526
elizabeth.fogerty@fitchratings.com

Contacts

Fitch Ratings
Primary Analyst:
Richard Park
Director
+1-212-908-0289
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Secondary Analyst:
Mario Civico
Senior Director
+1-212-908-0796
or
Committee Chairperson:
Joseph Staffa
Senior Director
+1-212-908-0829
or
Media Relations:
Elizabeth Fogerty, +1-212-908-0526
elizabeth.fogerty@fitchratings.com