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Amendment to J.P. Morgan PUTTERs/DRIVERs Trust Agreement Won't Affect Ratings Jan 08
Standard & Poors, Jan 2008
Abstract
SAN FRANCISCO (Standard & Poor's) Jan. 14, 2008--Standard & Poor's Ratings Services has reviewed an amendment, which takes effect Jan. 15, 2008, that modifies the series trust agreement for each series of receipts identified in such amendment and the standard terms and provisions of trust agreement attached to each such series trust agreement for the J.P. Morgan Securities Puttable Tax-Exempt Receipts ('PUTTERs') and Derivative Inverse Tax-Exempt Receipts ('DRIVERs'). We have concluded that the amendment will not result in our lowering or withdrawing the current ratings assigned to the outstanding series of PUTTERs and DRIVERs. The amendment changes Section 5.8(a)(i) of the standard terms and provisions of trust agreement to clarify that if a principal credit source is identified in a...
Companies mentioned in this report are: Honolulu City & Cnty,JPMorgan Secs PUTTERs & DRIVERs Tr Ser
Action: Affirmed
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 credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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