Standard&Poor's Ratings Services raised its rating to 'AA-/A-1+' and 'AA-' from 'AA/A-1+' and 'A' on JPMorgan Securities, Inc., puttable and derivative tax-excempt reciepts, series 1281. Additionally, Standard&Poor's assigned its 'AA-' rating to the custodial receipt, series 2008-5 evidencing beneficial ownership of $85 million Allegheny County Hospital Development Authority, Pa.'s University of Pittsburgh Medical Center revenue bonds, series 2006A. The ratings are based on the amended and restated series trust agreement for series 1281, which changes the asset for the trust from the underlying FGIC insured bond to a custodial receipt holding the same underlying bond and the addition of a credit enhancement. The credit enhancement at the custodial receipt level is in the form of a
