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Summary: J.P. Morgan Secs PUTTERs & DRIVERs Trust Series 2228 Oct 07 Product Image

Summary: J.P. Morgan Secs PUTTERs & DRIVERs Trust Series 2228 Oct 07

  • Published: October 2007
  • Standard & Poors

Abstract
J.P. Morgan Securities, Inc., puttable and derivative inverse tax-exempt receipts, series 2228, relating to the Department of Water and Power of the City of Los Angeles, Calif.'s power system revenue 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 Department of Water and Power of the City of Los Angeles, Calif.'s power system revenue 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 Oct. 16, 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...

Companies mentioned in this report are:
- Los Angeles Dept of Wtr & Pwr
- 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 READ MORE >

- Los Angeles Dept of Wtr & Pwr
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser

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