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Amendment To Merrill Lynch Put FLOATs/RITES Trust Series PA Program Won't Affect Trust Ratings Jul 08
Standard & Poors, July 2008
Abstract
NEW YORK (Standard & Poor's) July 24, 2008--Standard & Poor's Ratings Services has reviewed an omnibus amendment of trust agreements dated July 24, 2008, amending the series trust agreements that amend the standard terms and provisions of series trust agreement for the Merrill Lynch & Co. Inc. puttable floating option tax-exempt receipts (P-Floats) and residual interest tax-exempt securities receipts (PA) 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 the affected series of floater certificates. The amendment makes a variety of changes to the standard terms for the affected series. Among these are the addition of 'net liquidity' provisions that cause the bonds...
Companies mentioned in this report are: New York State Dorm Auth,Merrill Lynch Put FLOATs/RITES tr Ser PA
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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