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Summary: JPMorgan Securities PUTTERs & DRIVERs Trust's Series 2286 Rating Lowered To 'AA+/A-1'; Residual Certificates; Tender Option Certificates/Bonds May 11 Product Image

Summary: JPMorgan Securities PUTTERs & DRIVERs Trust's Series 2286 Rating Lowered To 'AA+/A-1'; Residual Certificates; Tender Option Certificates/Bonds May 11

  • Published: May 2011
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services lowered its rating on JPMorgan Securities PUTTERS & DRIVERs Trust's PUTTERs series 2286, relating to Massachusetts School Building Authority's dedicated sales tax revenue bonds series 2007A, to 'AA+/A-1' from 'AA+/A-1+', based on the substitution of the existing liquidity agreement and an amendment to the standard terms. The existing liquidity agreement provided by JPMorgan Chase Bank N.A. (A-1+) will be substituted with a liquidity agreement provided by Deutsche Bank AG (A-1). At the same time, Standard & Poor's affirmed its 'AA+' rating on the DRIVERs series 2007A. The long-term component of the rating is based on the underlying bonds. The short-term component of the rating on the PUTTERs is based on a liquidity facility provided by...

Companies mentioned in this report are:
- Massachusetts Sch Bldg Auth
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser

Action: Downgraded

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- Massachusetts Sch Bldg Auth
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser

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