Summary: JPMorgan Chase & Co. Feb 10

Standard & Poors, February 2010

Abstract
Standard & Poor's Ratings Services' ratings on JPMorgan Chase & Co. (JPM) reflect the company's very strong competitive position as one of the leading global financial services firms, excellent earnings generation capacity, and the potential government support it enjoys as a highly systemically important financial institution. These characteristics leave JPM well positioned to handle the cyclical earnings pressure that likely will continue over the next year, including exceptionally high credit losses. With assets totaling $2.0 trillion, JPM enjoys a broadly diversified franchise, with leading positions in investment banking, derivatives, syndicated lending, credit cards, mortgages, and funds transfers. The franchise is anchored by a strong U.S. branch-banking presence that yields a significant market share of deposits, creating a healthy balance between...

Companies mentioned in this report are:
- JPMorgan Chase & Co.

Action: Review

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.

- JPMorgan Chase & Co.

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