Standard & Poor's Ratings Services downgraded its rating on JPMorgan Securities Inc. derivative inverse tax-exempt receipts (Puerto Rico Sales Tax Finance Corp.) series 2298 relating to Puerto Rico Sales Tax Financing Corporation Sale to 'A+' from 'AAA'. This action follows the downgrade of Ambac Assurance Corp. and the upgrade of the underlying bond to 'A+/Stable' from 'A/Negative'. The long-term component of the rating is based on the underlying bond (A+)....
Companies mentioned in this report are:
- Puerto Rico Sales Tax Fincg Corp
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser
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