Summary: JPMorgan Securities PUTTERs & DRIVERs Trust Series 2624Z; Residual Certificates; Tender Option Certificates/Bonds Aug 12

Standard & Poors, August 2012

Abstract
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: Affirmed
Action: Outlook: Stable

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.

- Lakewood Pub Schs
- JPMorgan Secs PUTTERs & DRIVERs Tr Ser

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