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Summary: Santa Margarita-Dana Point Auth, CA May 04 Product Image

Summary: Santa Margarita-Dana Point Auth, CA May 04

  • ID: 1833555
  • May 2004
  • Standard & Poors

Abstract
J.P. Morgan Securities PUTTERs & DRIVERs Trust Series 439, relating to Santa Margarita-Dana Point Authority revenue bonds series 2004A, 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 May 5, 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 rating on the receipts...

Companies mentioned in this report are:
- Santa Margarita-Dana Point Auth
- 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 READ MORE >

- Santa Margarita-Dana Point Auth
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser

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