Fitch Rates Municipal Bond Joint Venture Series JVI-1007 Trust

NEW YORK--()--Fitch Ratings assigns the following ratings to the Floating Rate Joint Venture Interests (Floating JVIs) and Inverse Floating Rate Joint Venture Interests (Inverse JVIs) of the Municipal Bond Joint Venture Trust Series listed below:

--Floating JVIs series JVI-1007 'AAA/F1'; Stable Outlook;

--Inverse JVIs series JVI-1007 'AAA'; Stable Outlook.

KEY RATING DRIVERS

The long-term 'AAA'; Stable Outlook ratings assigned to the series JVI-1007 Floating JVIs and series JVI-1007 Inverse JVIs are based on the rating that Fitch has assigned to the State of Maryland General Obligation Bonds, State and Local Facilities Loan of 2014, First Series A Tax-Exempt Bonds (rated 'AAA', Stable Outlook) that have been deposited in the series JVI-1007 trust.

The short-term 'F1' rating assigned to the series JVI-1007 Floating JVIs is based on the liquidity facility provided by Bank of America, National Association (rated 'A/F1'; Negative Outlook). The 'F1' rating assigned to the Floating JVIs will expire on May 15, 2015, the expiration date of the liquidity facility, unless such date is extended or earlier terminated.

RATING SENSITIVITIES

The short-term rating assigned to the Floating JVIs 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, and, in some cases, the long-term rating of the underlying bonds deposited in the trust. The long-term ratings assigned to the Floating JVIs and Inverse JVIs are exclusively tied to the creditworthiness of the underlying bonds deposited in the trust and will reflect all changes to that rating.

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

Applicable Criteria and Related Research:

--'U.S. Municipal Structured Finance Criteria', Feb. 24, 2014;

--'Guidelines for Rating Tender Option Bonds', May 9, 2013.

Applicable Criteria and Related Research:

U.S. Municipal Structured Finance Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=736618

Guidelines for Rating Tender Option Bonds

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=707849

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=957195

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Contacts

Fitch Ratings
Primary Analyst
Richard Park
Director
+1 212-908-0289
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Secondary Analyst
Trudy Zibit
Managing Director
+1 212-908-0689
or
Committee Chairperson
Joseph Staffa
Senior Director
+1 212-908-0829
or
Media Relations, New York
Elizabeth Fogerty, +1 212-908-0526
elizabeth.fogerty@fitchratings.com

Contacts

Fitch Ratings
Primary Analyst
Richard Park
Director
+1 212-908-0289
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Secondary Analyst
Trudy Zibit
Managing Director
+1 212-908-0689
or
Committee Chairperson
Joseph Staffa
Senior Director
+1 212-908-0829
or
Media Relations, New York
Elizabeth Fogerty, +1 212-908-0526
elizabeth.fogerty@fitchratings.com