Summary: J.P. Morgan Secs PUTTERs & DRIVERs Trust Series 2434 Jan 08
- ID: 1833427
- January 2008
- Standard & Poors
J.P. Morgan Securities, Inc., puttable tax-exempt receipts, series 2434, relating to the Los Angeles Department of Water and Power, Calif.'s water system revenue bonds, 2003 series A are rated 'AAA/A-1+'. The long-term component of the rating is based on the 'AAA' rated FGIC-insured Los Angeles Department of Water and Power, Calif.'s water system revenue bonds, 2003 series A. The short-term component of the rating is based on a liquidity facility provided by JPMorgan Chase Bank N.A., scheduled to expire Jan. 8, 2009. 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...
Companies mentioned in this report are:
- Los Angeles Dept of Wtr & Pwr
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser
Action: New Rating
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