debootstrap fails to create precise chroots: Release signed by unknown key

Creating precise, and probably all other EOL-ed series, chroot fails with following error messages:

  $ sudo debootstrap precise target
  I: Retrieving InRelease
  I: Retrieving Release
  I: Retrieving Release.gpg
  I: Checking Release signature
  E: Release signed by unknown key (key id 40976EAF437D05B5)
     The specified keyring /usr/share/keyrings/ubuntu-archive-keyring.gpg may be incorrect or out of date.
     You can find the latest Debian release key at https://ftp-master.debian.org/keys.html

Precise key 40976EAF437D05B5 was moved into /usr/share/keyrings/ubuntu-archive-removed-keys.gpg[1][2] since ubuntu-keyring >= 2016.10.27, and yet /usr/share/debootstrap/scripts/precise (symlinked to /usr/share/debootstrap/scripts/gusty) is still using /usr/share/keyrings/ubuntu-archive-keys.gpg, so it will certainly fail unless --keyring ... is specified.

[1]: https://bugs.launchpad.net/ubuntu/+source/ubuntu-keyring/+bug/1363482

ProblemType: Bug
DistroRelease: Ubuntu 20.04
Package: debootstrap 1.0.116ubuntu2
ProcVersionSignature: Ubuntu 5.3.0-21.22-generic 5.3.7
Uname: Linux 5.3.0-21-generic x86_64
NonfreeKernelModules: zfs zunicode zavl icp zcommon znvpair wl
ApportVersion: 2.20.11-0ubuntu10
Architecture: amd64
CurrentDesktop: KDE
Date: Wed Nov 6 13:31:59 2019
InstallationDate: Installed on 2019-09-28 (38 days ago)
InstallationMedia: Ubuntu 19.10 "Eoan Ermine" - Alpha amd64 (20190923)
PackageArchitecture: all
SourcePackage: debootstrap
UpgradeStatus: No upgrade log present (probably fresh install)