Standard & Poor's Ratings Services assigned its 'AAA/A-1+' and 'AAA' ratings to Morgan Stanley & Co. Inc. Trust floater and residual certificates, respectively, issued under trust Series 2006-1983-1989 and 2006-1991, relating to custody receipts series 2007-8, relating to Puerto Rico Sales Tax Financing Corp. sales tax revenue bonds series 2007A. The 'AAA' rating are based jointly (assuming low correlation) on the ratings of the underlying bonds (A+) and credit enhancement in the form of a credit and liquidity swap agreement provided by Morgan Stanley Municipal Funding Inc. (NR) with a guarantee provided by Morgan Stanley(AA-/A-1+). The 'A-1' rating on the floater certificates is based on a liquidity facility provided by Morgan Stanley Municipal Funding Inc. (NR) also with a guarantee...
Companies mentioned in this report are:
- Puerto Rico Sales Tax Fincg Corp
- Morgan Stanley & Co Inc Tr
Action: New Rating
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