Standard&Poor's Ratings Services assigned its 'AA-/A-1+' and 'AA-' ratings to JPMorgan Securities PUTTERs&DRIVERs Trust's series 3991Z, relating to Port Authority of New York&New Jersey's consolidated bonds series 169. The long-term component of the rating on the PUTTERs and DRIVERs is based on the rating on the underlying asset (AA-). The short-term component of the rating on the PUTTERs is based on the rating on JPMorgan Chase Bank N.A., until Nov. 8, 2012. 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
