Standard&Poor's Ratings Services assigned its 'AAA/A-1' and 'AAA' ratings to JPMorgan Securities PUTTERs&DRIVERs Trust's series 4020, relating to District of Columbia's income tax secured revenue bonds series 2011G. The long-term component of the rating on the PUTTERs and DRIVERs is based on the rating on the underlying asset (AAA). The short-term component of the rating on the PUTTERs is based on the rating on JPMorgan Chase&Bank N.A., until Dec. 27, 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 they
