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Summary: New Jersey Transit Corp Sep 05 Product Image

Summary: New Jersey Transit Corp Sep 05

  • Published: September 2005
  • Region: New Jersey
  • Standard & Poors

Abstract
J.P. Morgan Securities PUTTERs & DRIVERs Trust Series 1057, relating to New Jersey Transit Corp. subordinate certificates of participation (series 2005A), are rated 'AAA/A-1' and 'AAA', respectively. The long-term component of the rating and the long-term rating are based on the 'AAA' rated, FGIC-insured New Jersey Transit Corp. subordinate certificates of participation (series 2005A). The short-term component of the rating is based on a liquidity facility provided by JP Morgan Chase & Co. scheduled to expire on Sept. 7, 2006. 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...

Companies mentioned in this report are:
- New Jersey Transit Corp
- 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 READ MORE >

- New Jersey Transit Corp
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser

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