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Summary: J.P. Morgan Secs PUTTERs & DRIVERs Trust Series 2196 Oct 07 Product Image

Summary: J.P. Morgan Secs PUTTERs & DRIVERs Trust Series 2196 Oct 07

  • Published: October 2007
  • Standard & Poors

Abstract
J.P. Morgan Securities, Inc., puttable and derivative inverse tax-exempt receipts, series 2196, relating to the New Jersey Transportation Trust Fund Authority's transportation system bonds, 2007 series A are rated 'AAA/A-1+' and 'AAA', respectively. The long-term component of the rating is based on the 'AAA' rated AMBAC-insured New Jersey Transportation Trust Fund Authority's transportation system bonds, 2007 series A. The short-term component of the rating is based on a liquidity facility provided by JPMorgan Chase Bank N.A., scheduled to expire Sept. 25, 2008. 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...

Companies mentioned in this report are:
- New Jersey Transp Trust Fd Auth
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser

Action: New Rating

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- New Jersey Transp Trust Fd Auth
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser

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