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JPMorgan Securities PUTTERs&DRIVERs Trust Series 4038 Ratings Lowered To 'A+/A-1'

Published Oct 15, 2013

1074 words — Published Oct 15, 2013

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Abstract:

NEW YORK (Standard&Poor's) Oct. 15, 2013--Standard&Poor's Ratings Services said that it lowered its long-term ratings on JPMorgan Securities PUTTERs&DRIVERs Trust Series 4038 puttable tax-exempt and derivative inverse tax-exempt receipts relating to Washington Health Care Facilities Authority's series 2011A revenue and refunding bonds (Catholic Health Initiatives) to 'A+/A-1' and 'A+', respectively from 'AA-/A-1' and 'AA-', respectively. This action follows Standard&Poor's Oct. 8, 2013, lowering of its rating on the underlying bonds to 'A+' from 'AA-'. (Please see "Catholic Health Initiatives, CO Debt Ratings Lowered To 'A+' Due To Weak Results, Increased Debt," published Oct. 8, 2013, on RatingsDirect.) The long-term component of the rating on the PUTTERs&DRIVERs certificates is based on

Brief Excerpt:

RESEARCH JPMorgan Securities PUTTERs & DRIVERs Trust Series 4038 Ratings Lowered To 'A+/A-1' Publication date: 15-Oct-2013 Primary Credit Analyst: Santos Souffront, New York (1) 212-438-2197; santos.souffront@standardandpoors.com...

Report Type:

Ratings Action

Issuer

Washington Hlth Care Fac Auth

Sector

Global Issuers, Public Finance, Structured Finance

Country

United States

Region

United States

Format:

HTML

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MLA:	S&P Global Ratings’ Credit Research. "JPMorgan Securities PUTTERs&DRIVERs Trust Series 4038 Ratings Lowered To 'A+/A-1'" Oct 15, 2013. Alacra Store. May 12, 2025. <http://www.alacrastore.com/s-and-p-credit-research/JPMorgan-Securities-PUTTERs-DRIVERs-Trust-Series-4038-Ratings-Lowered-To-A-A-1-1203526>

APA:	S&P Global Ratings’ Credit Research. (). JPMorgan Securities PUTTERs&DRIVERs Trust Series 4038 Ratings Lowered To 'A+/A-1' Oct 15, 2013. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/JPMorgan-Securities-PUTTERs-DRIVERs-Trust-Series-4038-Ratings-Lowered-To-A-A-1-1203526>

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