Summary: JPMorgan Securities PUTTERs & DRIVERs Trust Series 3966; Residual Certificates; Tender Option Certificates/Bonds Oct 11

Standard & Poors, October 2011

Abstract
Standard & Poor's Ratings Services assigned its 'SP-1+/A-1' and 'SP-1+' ratings to JPMorgan Securities PUTTERs & DRIVERs Trust's series 3966, relating to San Diego Unified School District, Calif.'s tax and revenue anticipation notes. The long-term component of the rating on the PUTTERs and DRIVERs is based on the rating on the underlying asset (SP-1+). The short-term component of the rating on the PUTTERs is based on the rating oin JPMorgan Chase & Co., until Sept. 27, 2012. SEC Rule 17g-7 requires an NRSRO, for any report accompanying a credit rating relating to an asset-backed security as defined in the Rule, to include a description of the representations, warranties and enforcement mechanisms available to investors and a description of how they...

Companies mentioned in this report are:
- San Diego Unif Sch Dist
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser

Action: New Rating

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.

- San Diego Unif Sch Dist
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser

Customers who bought this item also bought

• The Survey of Library Public Relations Practices
• 2012 America's Neighborhoods-Zip Code 92105 for San Diego, CA report
• 2012 America's Neighborhoods-Zip Code 92113 for San Diego, CA report
• 2012 America's Neighborhoods-Zip Code 92114 for San Diego, CA report
• 2012 America's Neighborhoods-Zip Code 92115 for San Diego, CA report
• 2012 America's Neighborhoods-Zip Code 92117 for San Diego, CA report
• 2012 America's Neighborhoods-Zip Code 92126 for San Diego, CA report
• 2012 America's Neighborhoods-Zip Code 92128 for San Diego, CA report
• 2012 America's Neighborhoods-Zip Code 92129 for San Diego, CA report
• 2012 America's Neighborhoods-Zip Code 92130 for San Diego, CA report