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Summary: JPMorgan Securities PUTTERs & DRIVERs Trust Series 3257 Ratings Placed On Watch Negative; Residual Certificates; Tender Option Certificates/Bonds Apr 10 Product Image

Summary: JPMorgan Securities PUTTERs & DRIVERs Trust Series 3257 Ratings Placed On Watch Negative; Residual Certificates; Tender Option Certificates/Bonds Apr 10

  • ID: 1835760
  • April 2010
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services placed its ratings on JPMorgan Securities PUTTERs & DRIVERs Trust's series 3257, relating to Illinois' general obligation bonds FIRST series of November 2001, on CreditWatch with negative implications. This action follows Standard & Poor's March 26, 2010, placement of the rating on the underlying bonds (CUSIP# 4521502W4, 4521502Y0, 4521502Z7) on CreditWatch with negative implications. The long-term component of the rating is based on the underlying bonds. The short-term component of the rating is based on liquidity provided by JPMorgan Chase & Co. USPF Criteria: Secondary Market Derivative Products, June 27, 2007...

Companies mentioned in this report are:
- Illinois
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser

Action: On CreditWatch:Negative

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Illinois
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser

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