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
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:
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser
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