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Chemical Acceptance Corp. Rating on Series 1988-2 Raised; Other Ratings Affirmed Sep 02 Product Image

Chemical Acceptance Corp. Rating on Series 1988-2 Raised; Other Ratings Affirmed Sep 02

  • Published: September 2002
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Sept. 23, 2002Standard & Poor's Ratings Services today raised its rating on class A of Chemical Acceptance Corp.'s series 1988-2 to triple-'A' from double-'A'. At the same time, Standard & Poor's affirmed its triple-'A' ratings on series 1988-4 and 1988-5 (see list). The raised rating on series 1988-2 reflects the class having sufficient current and projected credit support percentages at the higher rating level. Credit support for class A is provided through subordination, which currently represents 65.67% of the loan pool balance. The affirmations reflect adequate credit support for each class of the certificates. These credit support levels are sufficient to protect the classes from losses on an actual and projected basis. As of the...

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

Action: Affirmed

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 READ MORE >

- JPMorgan Chase & Co.

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