Standard&Poor's Ratings Services assigned its 'AAA/A-1' and 'AAA' ratings to J.P. Morgan Securities Inc.'s PUTTERs and DRIVERs, respectively, series 1281, relating to Allegheny County Hospital Development Authority's University of Pittsburgh Medical Center series 2006A revenue bonds. The long-term component of the rating is based on the 'AAA' rated, FGIC-insured University of Pittsburgh Medical Center revenue bonds. The short-term component of the rating is based on a liquidity facility provided by JP Morgan Chase&Co. scheduled to expire on March 29, 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 apply to any
