OREANDA-NEWS. Fitch Ratings assigns a rating of 'F1+' to the Puttable Taxable Notes, Series T0023 (Taxable PUTTERs) of the J.P. Morgan Taxable PUTTERs/Taxable DRIVERs, Series T0023 Trust.

KEY RATING DRIVERS
The 'F1+' short-term rating assigned to the Taxable PUTTERs is based on the liquidity facility provided by J.P. Morgan Securities LLC (rated 'AA-/F1+', Stable Outlook) which expires on the earlier of Jan. 19, 2017, unless such date is extended, or any prior termination of the liquidity facility.

RATING SENSITIVITIES
The short-term rating assigned to the Taxable PUTTERs reflects the short-term rating that Fitch maintains on the bank providing liquidity support and will be adjusted upward or downward in conjunction with the short-term rating of the bank.