Standard&Poor's Ratings Services assigned its 'AAA/A-1+' and 'AAA' ratings to J.P. Morgan Securities Inc. 's series 1343 PUTTERs and DRIVERs, respectively, relating to the City of Portland, Ore.'s 2006 series B second lien sewer system revenue bonds. The long-term component of the rating is based on the 'AAA' rated, MBIA-insured Portland 2006 series B second lien sewer system revenue bonds. The short-term component of the rating is based on a liquidity facility provided by JPMorgan Chase Bank N.A. scheduled to expire on May 24, 2007. The receipt holders' ability to receive the purchase price from the liquidity provider may terminate without notice under certain conditions set forth in the documents. The short-term portion of the rating does not
