Standard&Poor's Ratings Services assigned its 'AA+/A-1' and 'AA+' ratings to JPMorgan Securities PUTTERs&DRIVERs Trust's series 4281, relating to San Antonio, Texas' public facilities corporation, improvement and refunding lease revenue bonds series 2012 (Convention Center Refinancing and Expansion Project). 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. 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
