Summary: J.P. Morgan Securities PUTTERs & DRIVERs Trust Series 1494 Oct 06
- ID: 1835108
- October 2006
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AAA/A-1+' and 'AAA' ratings to J.P. Morgan Securities Inc.'s series 1494 PUTTERs and DRIVERs, respectively, relating to Rio Grande City Consolidated Independent School District, Texas' series 2006 unlimited tax school building bonds. The long-term component of the rating is based on the 'AAA' rated underlying bonds. The short-term component of the rating is based on a liquidity facility provided by JPMorgan Chase Bank N.A. scheduled to expire on Oct. 11, 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"...
Companies mentioned in this report are:
- Rio Grande City Cons Indpt Sch Dist
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser
Action: New Rating
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