Fitch Rates J.P. Morgan Securities Inc. PUTTERs & DRIVERs, Series 3614

Fitch Ratings has assigned a rating of 'AA/F1+' to the puttable tax-exempt receipts, series 3614 (PUTTERs) and a rating of 'AA' to the derivative inverse tax-exempt receipts, series 3614 (DRIVERs). The long-term rating assigned to the PUTTERs and DRIVERs is based on the long-term 'AA' rating assigned by Fitch to the Washington Health Care Facilities Authority, revenue bonds, series 2009 (Seattle Children's Hospital), deposited in the J.P. Morgan PUTTERs/DRIVERs Trust series 3614.

The short-term 'F1+' rating assigned to the PUTTERs is based on the liquidity facility provided by JPMorgan Chase Bank, N.A. The 'F1+' rating will expire on Nov. 24, 2010, the expiration date of the liquidity facility, unless such date is extended or earlier terminated.

Additional information is available at 'www.fitchratings.com'.

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SOURCE: Fitch Ratings

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Related terms: bank, bonds, health, hospital, rates, revenue, securities, tax