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Summary: JPMorgan Securities PUTTERs & DRIVERs Trust Series 3845 Ratings Lowered To 'AA+/A-1+' And ?AA+?; Residual Certificates; Tender Option Certificates/Bonds Oct 11 Product Image

Summary: JPMorgan Securities PUTTERs & DRIVERs Trust Series 3845 Ratings Lowered To 'AA+/A-1+' And ?AA+?; Residual Certificates; Tender Option Certificates/Bonds Oct 11

  • Published: October 2011
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services lowered its ratings on JPMorgan Securities PUTTERs & DRIVERs Trust's series 3845, relating to Minnesota's general obligation state various purpose bonds series 2010A, to 'AA+/A-1+' and 'AA+' from 'AAA/A-1+' and 'AAA', respectively. This action follows Standard & Poor's Sept. 23, 2011, downgrade of its rating on the underlying bonds to 'AA+' from 'AAA'. The long-term component of the rating on the PUTTERs and DRIVERs is based on the rating on the underlying bonds (CUSIP #: 604129UY0). The short-term component of the rating on the PUTTERs is based on the liquidity facility provided by JPMorgan Chase Bank N.A. SEC Rule 17g-7 requires an NRSRO, for any report accompanying a credit rating relating to an asset-backed security...

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

Action: Downgraded

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 READ MORE >

- Minnesota
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser

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