Summary: JPMorgan Securities PUTTERs & DRIVERs Trust Series 2624Z; Residual Certificates; Tender Option Certificates/Bonds Aug 12
- ID: 2201888
- August 2012
- Standard & Poors
Standard & Poor's Ratings Services affirmed its 'AA-/A-1' and 'AA-' ratings on JPMorgan Securities PUTTERs & DRIVERs Trust's series 2624Z, relating to Lakewood Public Schools' series 2007 school building and site bonds. This action follows an amendment to the trust document: the designated termination date has been extended. 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 a liquidity facility provided by JPMorgan Chase Bank N.A. 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...
Companies mentioned in this report are:
- Lakewood Pub Schs
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser
Action: Outlook: Stable
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