Standard&Poor's Ratings Services assigned its 'AA-/A-1' and 'AA-' ratings to JPMorgan Securities PUTTERs&DRIVERs Trust's series 4011Z, relating to New York Liberty Development Corp.'s liberty revenue bonds (Port Authority of New York&New Jersey) series 1WTC-2011. The long-term component of the rating on the PUTTERs&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 Dec. 6, 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
