Summary: J.P. Morgan Securities PUTTERs & DRIVERs Trust Series 506 Oct 06
- ID: 1834472
- October 2006
- Standard & Poors
Standard & Poor's Ratings Services affirmed its 'AAA/A-1+' and 'AAA' ratings on J.P. Morgan Securities Inc.'s series 506 PUTTERs and DRIVERs, respectively, relating to the City of Houston, Texas's series 2004A combined utility system first lien revenue refunding bonds. This action follows a deleverage amendment to the trust documents. The long-term component of the rating is based on the MBIA-insured underlying bonds. The short-term component of the rating is based on a liquidity facility provided by JPMorgan Chase Bank scheduled to expire on Aug. 24, 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...
Companies mentioned in this report are:
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser
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