NEW YORK (Standard&Poor's) June 24, 2014--Standard&Poor's Ratings Services raised its long-term ratings on J.P. Morgan Securities PUTTERs&DRIVERs Trust Series 4327 puttable tax-exempt receipts (PUTTERs) and derivative inverse tax-exempt receipts (DRIVERs) related to Metropolitan Transportation Authority, N.Y.'s series 2005A transportation revenue bonds to 'AA-/A-1' and 'AA-', respectively, from 'A+/A-1' and 'A+'. This action follows Standard&Poor's June 17, 2014, raising of its rating on the underlying bonds to 'AA-' from 'A+' (please see the article, titled " Metropolitan Transportation Authority, New York," published June 18, 2014, on RatingsDirect). The long-term component of the ratings on the PUTTERs and DRIVERs reflects the rating on the underlying bonds. The short-term component of the rating on the
