J.P. Morgan Securities, Inc., puttable tax-exempt receipts, series 2327, relating to Allegheny County Hospital Development Authority, Pa.'s University of Pittsburgh Medical Center revenue bonds, series 2007C are rated 'AA/A-1+' and 'AA', respectively. The long-term component of the rating is based on the 'AA' rated custodial receipts with respect to the Allegheny County Hospital Development Authority, Pa.'s University of Pittsburgh Medical Center revenue bonds, series 2007C. The short-term component of the rating is based on a liquidity facility provided by JPMorgan Chase Bank N.A., scheduled to expire Nov. 13, 2008. The receipt holders' ability to receive the purchase price from the liquidity provider may terminate without notice under certain conditions set forth in the documents. The short-term portion of the rating
