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Bond-Backed Investment Certificates Series 1998-Chase-1 Put on CreditWatch Negative Aug 02
Standard & Poors, Aug 2002
Abstract
NEW YORK (Standard & Poor's) Aug. 29, 2002--Standard & Poor's Ratings Services today placed its rating on Bond-Backed Investment Certificates' series 1998-Chase-1 on CreditWatch with negative implications (see list). The CreditWatch placement follows the placing of J.P. Morgan Chase & Co.'s long-term corporate credit and subordinated debt ratings on CreditWatch negative on Aug. 15, 2002. Bond-Backed Investment Certificates is a swap-independent synthetic transaction that is weak-linked to the underlying collateral, J.P. Morgan Chase & Co.'s subordinated notes. The CreditWatch placement reflects the credit quality of the underlying securities issued by J.P. Morgan Chase & Co. A copy of the J.P. Morgan Chase & Co.-related press release, dated Aug. 15, 2002, can be found on RatingsDirect, Standard & Poor's Web-based credit...
Companies mentioned in this report are: JPMorgan Chase & Co.
Action: Downgraded, On CreditWatch Negative
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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