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Summary: J.P. Morgan Securities PUTTERs & DRIVERs Trust Series Jul 06

  • ID: 1834427
  • July 2006
  • Standard & Poors
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Abstract
J.P. Morgan Securities Inc.'s Puttable tax-exempt receipts, series 1386, relating to Long Island Power Authority electric system general revenue bonds, series 2006A, are rated 'AAA/A-1+' and 'AAA', respectively. The long-term component of the rating is based on the 'AAA' rated, FGIC-insured Long Island Power Authority electric system general revenue bonds, series 2006A. The short-term component of the rating is based on a liquidity facility provided by JPMorgan Chase Bank N.A. scheduled to expire on July 5, 2007. 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 "restricted PUTTERs" pursuant...

Companies mentioned in this report are:
- Long Island Pwr Auth
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser

Action: New Rating

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- Long Island Pwr Auth
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown

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