April 20, 2023 JPM-3006DB Massachusetts's commonwealth transportation fund revenue bonds JPMorgan Chase Bank N.A. JPMorgan Securities LLC JP Morgan Securities LLC Daily S&P Global Ratings assigned the above-mentioned ratings to the puttable tax-exempt receipts (PUTTERs) and derivative inverse tax-exempt receipts (DRIVERs), (collectively the receipts), reflecting its opinion of the likelihood the trust will have sufficient assets to pay timely interest and full principal when due on the receipts. Trust assets include all distributions of principal; interest; and premiums, if any, from the underlying securities and the tender-option provider, which is in place to support tender payments on the PUTTERs. The long-term component of our rating on the PUTTERs reflects the ratings on the underlying securities and addresses full and timely
