Summary: JPMorgan Securities PUTTERs & DRIVERs Trust Series 2954; Residual Certificates; Tender Option Certificates/Bonds Oct 11
- ID: 1929123
- October 2011
- Standard & Poors
Standard & Poor's Ratings Services affirmed its 'AA+/A-1+' and 'AA+' ratings on JPMorgan Securities PUTTERs & DRIVERs Trust 's series 2954, relating to Detroit School District, Mich.'s (Wayne County) school building and site improvement (unlimited-tax general obligation) bonds series 2001A. The rating remains on CreditWatch with negative implications. This action follows the amendment to the series trust agreement. The long-term component of the rating on the PUTTERs and DRIVERs is based on the rating on the underlying bonds. The short-term component of the rating on the PUTTERs 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:
- Detroit Pub Schs
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser
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