Summary: JPMorgan Securities PUTTERs & DRIVERs Trust's Series 3610Z Ratings Lowered To ?AA/A-1+? And ?AA?; Residual Certificates; Tender Option Certificates/Bonds Dec 10
Standard & Poors, December 2010
Abstract
Standard & Poor's Ratings Services lowered its ratings on JPMorgan Securities PUTTERs & DRIVERs Trust's (Lexington-Fayette Urban County Government) series 3610Z to 'AA/A-1+' and 'AA' from 'AA+/A-1+' and 'AA+', respectively. This action follows Standard & Poor's Dec. 9, 2010, downgrade of the rating on the underlying bonds to 'AA' from 'AA+', and its revision of the outlook to stable from negative. The long-term component of the rating is based on the underlying bonds (CUSIP#: 52908WAQ6). The short-term component of the rating is based on the liquidity facility provided by JPMorgan Chase Bank N.A. USPF Criteria: Secondary Market Derivative Products, June 27, 2007...
Companies mentioned in this report are:
- Lexington-Fayette Urban Cnty Govt
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser
Action: Downgraded
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 credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
- Lexington-Fayette Urban Cnty Govt
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser
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