Summary: Morgan Stanley & Co Inc Trust Series 2008-2517 Mar 08

Standard & Poors, March 2008

Abstract
Morgan Stanley & Co. Inc. Trust floater certificates series 2008-2517, relating to Frisco, Texas (Collin and Denton Counties) general obligation bonds series 2003, are rated 'AAA/A-1+'. The long-term component of the rating is based on the 'AAA' rated, FSA-insured underlying bond. The short-term component of the rating is based on a guarantee provided by Morgan Stanley (AA-/Watch Neg/A-1+) and the liquidity facility provided by Morgan Stanley Municipal Funding Inc. until March 12, 2009. Morgan Stanley & Co. Inc. Trust residual certificates series 2008-2517, relating to Frisco, Texas (Collin and Denton Counties) general obligation bonds series 2003, are rated 'AAA'. The rating is based on the 'AAA' rated, FSA-insured underlying bond. The stable outlook on the residual certificates is based on the...

Companies mentioned in this report are:
- Frisco
- Morgan Stanley & Co Inc Tr

Action: New Rating

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Frisco
- Morgan Stanley & Co Inc Tr

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