New York, August 14, 2013 -- Moody's downgrades to Aa3 from Aa2 the long-term ratings assigned to the J.P. Morgan Securities LLC (Muni. Deriv.) Puttable Tax-Exempt Receipts (PUTTERs) and Derivative Inverse Tax-Exempt Receipts (DRIVERs), Series 1244. The short-term rating remains VMIG 1.

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