Summary: Ratings Affirmed On Seven Merrill Lynch Put FLOATs/RITES Trust Series PT-1000 Tax-Exempt Receipts; Residual Certificates; Tender Option Certificates/Bonds Dec 11
- Language: English
- Published: December 2011
Standard & Poor's Ratings Services assigned its 'AA-/A-1' rating to Merrill Lynch P-FLOATS series PT-1000 Trust ,puttable floating option tax-exempt receipts, series PT-4700, relating to Lansing Board of Water and Light, Mich., utility system revenue bonds, series 2011A. The long-term component of the rating is based on the 'AA-' rated, underlying bond. The short-term rating is based on the liquidity facility by MLIB with a guarantee from Merrill Lynch & Co. The expiration date of the liquidity facility is Jan. 15, 2012. Standard & Poor's assigned its 'AA-' rating to Merrill Lynch Puttable FLOATs/RITEs Trust, residual interest tax-exempt securities receipts, series PT-4700, relating to Lansing Board of Water and Light utility system revenue bonds, series 2011A. The long-term component of...
Companies mentioned in this report are: Lansing Brd of Wtr & Lt,Merrill Lynch Put FLOATs/RITES tr ser PT-1000
Action: New Rating
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Lansing Brd of Wtr & Lt,Merrill Lynch Put FLOATs/RITES tr ser PT-1000