Standard & Poor's Ratings Services assigned its 'AAA/A-1 and 'AAA' ratings to J.P. Morgan Securities Trust's series 1177 PUTTERs & DRIVERs, respectively, relating to the board of education of the Cincinnati School District, Ohio's classroom facilities construction and improvement bonds, series 2003 (voted GO - unlimited tax). The long-term component of the rating is based on the 'AAA' rated, FSA-insured Cincinnati School District's classroom facilities construction and improvement bonds, series 2003. The short-term component of the rating is based on a liquidity facility provided by PB Capital Corporation (NR) with a guarantee provided by Deutsche Postbank AG (A/Watch Neg/A-1) scheduled to expire on Nov. 16, 2006. The receipt holders' ability to receive the purchase price from the liquidity provider may...
Companies mentioned in this report are:
- Cincinnati City Sch Dist
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser
Action: New Rating
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