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Summary: Puerto Rico Aug 03 Product Image

Summary: Puerto Rico Aug 03

  • Published: August 2003
  • Region: Puerto Rico
  • Standard & Poors

Abstract
J.P. Morgan Securities PUTTERs & DRIVERs Trust Series 363, relating to Puerto Rico Public Finance Corp. 1998 series A bonds (commonwealth appropriation bonds), are rated 'AAA/A-1+'. The long-term component of the rating is based on the Ambac-insured underlying bonds. The short-term component of the rating is based on a liquidity facility provided by JPMorgan Chase Bank scheduled to expire on Aug. 1, 2005. The receipt holders' ability to receive the purchase price from the liquidity provider may terminate without notice under certain conditions set forth in the documents. The short-term portion of the rating does not apply to any receipts that are designated "restricted PUTTERs" pursuant to section 2.8 of the "standard term and provisions of the trust agreement". The...

Companies mentioned in this report are:
- Puerto Rico
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser

Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the READ MORE >

- Puerto Rico
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser

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