Standard & Poor's Ratings Services lowered its ratings on JPMorgan Securities PUTTERs & DRIVERs Trust's series 3421, relating to Nevada's general obligation (limited tax) capital improvement and cultural affairs bonds series 2008C, to 'AA/A-1+' and 'AA' from 'AA+/A-1+' and 'AA+', respectively. This action follows Standard & Poor's March 10, 2011, downgrade of its rating on the underlying bonds to 'AA' from 'AA+'. The long-term component of the rating is based on the underlying bonds (CUSIP #: 641461JB5, 641461JC3). The short-term component of the rating is based on the liquidity facility provided by JPMorgan Chase Bank N.A. USPF Criteria: Secondary Market Derivative Products, June 27, 2007...
Companies mentioned in this report are:
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser
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