Summary: Morgan Stanley & Co. Inc. Trust Series 2008-2954 Ratings Placed On Watch Negative; Joint Criteria Nov 11
- Language: English
- Published: November 2011
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 2006-2040, relating to Custody Receipts Series 2008-178, relating to Golden State Tobacco Securitization Corp. enhanced tobacco settlement asset-backed bonds (California) series 2005 A. The 'AAA' ratings for the trust certificates are based jointly (assuming low correlation) on the ratings of the underlying obligor 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-/Watch Neg/A-1+). On an ongoing basis, the credit rating of the trust will be based on the higher of the joint support...
Companies mentioned in this report are:
- Morgan Stanley & Co Inc Tr
Action: New Rating
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