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Summary: New York State Dec 03 Product Image

Summary: New York State Dec 03

  • ID: 1833827
  • December 2003
  • Region: New York
  • Standard & Poors

Abstract
J.P. Morgan Securities PUTTERs & DRIVERs Trust Series (New York State) 376, relating to Tobacco Settlement Finance Corp. asset-backed revenue bonds series 2003B-1C bonds, are rated 'AA-/A-1+'. The long-term component of the rating is based on the letter of credit enhancing custodial receipts series 2003-1. Custodial receipts in the amount of $10 million are partially enhanced (54%) by a letter of credit provided by JPMorgan Chase Bank scheduled to expire Dec. 2, 2004. The short-term component of the rating is based on a liquidity facility provided by JPMorgan Chase Bank also scheduled to expire Dec. 2, 2004. The receipt holders' ability to receive the purchase price from the liquidity provider may terminate without notice under certain conditions set forth in...

Companies mentioned in this report are:
- New York State
- 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 determine the credit READ MORE >

Note: Product cover images may vary from those shown

- New York State
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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