Standard&Poor's Ratings Services lowered its ratings on JPMorgan Securities PUTTERs&DRIVERs Trust's series 2821, relating to Sacramento Regional County Sanitation District, Calif.'s refunding revenue bonds series 2007B, to 'AA/A-1' and 'AA' from 'AA+/A-1' and 'AA+', respectively, and removed them from CreditWatch with negative implications. These actions follow Standard&Poor's Nov. 30, 2011, downgrade of its rating on Assured Guaranty Municipal Corp. to 'AA-' from 'AA+', and removal from CreditWatch with negative implications (please see "Assured Guaranty Ltd. And Operating Companies Downgraded; Outlook Stable," published Nov. 30, 2011, on RatingsDirect on the Global Credit Portal). The long-term components of the ratings on the PUTTERs and DRIVERs are based on the rating on the Assured Guaranty Municipal Corp.-insured
