Standard&Poor's Ratings Services assigned its 'AA+/A-1+' and 'AA+' ratings to JPMorgan Securities PUTTERs&DRIVERs Trust's series 3950, relating to Pennsylvania Housing Finance Agency's single-family mortgage revenue bonds series 2011-113. The long-term component of the rating on the PUTTERs&DRIVERs is based on the rating on the underlying assets (AA+). The short-term component of the rating on the PUTTERs is based on the rating on JPMorgan Chase Bank N.A., until Sept. 20, 2012. USPF Criteria: Secondary Market Derivative Products, June 27, 2007