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Amendment To Morgan Stanley Municipal Trust Certificates Program Won't Affect Trust Ratings Nov 07
Standard & Poors, Nov 2007
Abstract
NEW YORK (Standard & Poor's) Nov. 29, 2007--Standard & Poor's Ratings Services has reviewed an amendment dated Nov. 30, 2007 amending the master trust agreements and master terms of trust agreement for the Morgan Stanley & Co. Incorporated Municipal Trust Certificates program and we have concluded that the amendment will not result in a reduction or withdrawal of the current ratings Standard & Poor's has assigned to outstanding series of floater and residual certificates. The amendment changes Section 5.1(a) of the master terms to clarify that if a principal credit source is identified in a series trust agreement, then an act of bankruptcy of both the bond issuer (or underlying obligor) and the principal credit source would have to occur...
Companies mentioned in this report are: California Hlth Facs Fin Auth,Morgan Stanley & Co Inc Tr
Action: Affirmed
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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