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Summary: JPMorgan Securities PUTTERs & DRIVERs Trust's Series 3568 Ratings Lowered To '?A+/A-1? And ?A+?; Residual Certificates; Tender Option Certificates/Bonds Nov 10 Product Image

Summary: JPMorgan Securities PUTTERs & DRIVERs Trust's Series 3568 Ratings Lowered To '?A+/A-1? And ?A+?; Residual Certificates; Tender Option Certificates/Bonds Nov 10

  • ID: 1833597
  • November 2010
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services lowered its ratings on JPMorgan Securities PUTTERs & DRIVERs Trust's series 3568, relating to Chicago, Ill.'s general obligations refunding bonds series 2008A, to 'A+/A-1' and 'A+' from 'AA-/A-1+' and 'AA-', respectively. This action follows Standard & Poor's Nov. 4, 2010, downgrade of the rating on the underlying bonds to 'A+' from 'AA-'. The long-term component of the rating is based on the underlying bonds (CUSIP: 1674855t4). The short-term component of the rating on the putter tax-exempt receipt is based on the liquidity provided by JPMorgan Chase Bank N.A. (capped to the long-term component of the rating). USPF Criteria: Secondary Market Derivative Products, June 27, 2007...

Companies mentioned in this report are:
- Chicago
- 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 READ MORE >

- Chicago
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser

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