- Language: English
- 774 Pages
- Published: October 2012
- Region: Global
Summary: Merrill Lynch Puttable FLOATs/RITES Trust Series MT St. Lukes Hospital & Health Network; Joint Criteria May 11
- Published: May 2011
- Standard & Poors
Standard & Poor's Ratings Services affirmed its 'AAA/A-1' rating on Merrill Lynch P-FLOATs series MT Trust BOA, puttable floating option tax-exempts receipts, series MT-644, relating to custody receipts series BOA-181, which relate to North County General Purpose Authority hospital revenue bonds, series 2010C (St. Luke's Hospital Project, Pa.). The 'AAA' component of the rating is based jointly (assuming low correlation) on the unenhanced ratings on the underlying bonds (BBB+/Stable) and credit enhancement in the form of a credit and liquidity swap agreement provided by Bank of America NA (BOA; 'A+/A-1'). The BOA swap functions as a standby facility supporting the custodial receipts, and the custodian is instructed to notify BOA for payment under the swap if the underlying bonds fail...
Companies mentioned in this report are: St. Lukes Hosp & Hlth Network,Merrill Lynch Puttable FLOATs/RITES tr ser MT
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St. Lukes Hosp & Hlth Network,Merrill Lynch Puttable FLOATs/RITES tr ser MT