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Summary: Various Rating Actions Taken On 11 Merrill Lynch Puttable FLOATs/RITES Trust Series PT-1000 Tax-Exempt Receipts; Tender Option Certificates/Bonds Dec 11
Standard & Poors, December 2011
Standard & Poor's Ratings Services affirmed its ratings on 10 out of 11 Merrill Lynch Puttable FLOATs/RITES Trusts, series PT, puttable floating option tax-exempt receipts. The affirmations reflect an amendment to the series trust agreements for PT-4647, PT-4648, PT-4649, PT-4652, PT-4653, PT-4658, PT-4661, PT-4663, PT-4674, and PT-4680. The long-term components of the ratings are based on the respective underlying bonds. The short-term components of the ratings are based on liquidity facilities provided by Bank of America (A-1). Additionally, Standard & Poor's lowered its rating on Merrill Lynch Puttable FLOATS/RITES Trust, series PT-4684, puttable floating option tax-exempt receipts to 'AA-/A-1' from 'AA+/A-1', and removed the rating from CreditWatch with negative implications. This trust will have a similar amendment to the series...
Companies mentioned in this report are: Bay Area Toll Auth,Merrill Lynch Put FLOATs/RITES tr ser PT-1000
Action: Removed From CreditWatch
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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.
Bay Area Toll Auth,Merrill Lynch Put FLOATs/RITES tr ser PT-1000