Standard&Poor's Ratings Services affirmed its 'AA/A-1' and 'AA' ratings on JPMorgan Securities PUTTERs&DRIVERs Trust's series 1220, relating to Tacoma, Wash.'s limited-tax general obligation bonds series 2004. This action follows the amendment to the series trust agreement. The long-term component of the rating is based on the rating on the underlying asset. The short-term component of the rating is based on a liquidity facility provided by JPMorgan Chase&Co. SEC Rule 17g-7 requires an NRSRO, for any report accompanying a credit rating relating to an asset-backed security as defined in the Rule, to include a description of the representations, warranties and enforcement mechanisms available to investors and a description of how they differ from the representations,
