• +353-1-416-8900(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
Summary: Merrill Lynch Puttable FLOATs/RITES Trust's Series PT-3272 Rating Lowered To 'AA-/A-1'; Tender Option Certificates/Bonds Mar 11 Product Image

Summary: Merrill Lynch Puttable FLOATs/RITES Trust's Series PT-3272 Rating Lowered To 'AA-/A-1'; Tender Option Certificates/Bonds Mar 11

  • Published: March 2011
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services lowered its rating on Merrill Lynch Puttable FLOATs/RITES Trust's FLOATs series PT-3272, relating to New Jersey's general obligation refunding bonds series N, to 'AA-/A-1' from 'AA/A-1'. This action follows Standard & Poor's Feb. 9, 2011, downgrade of the rating on the underlying bonds to ' AA-/A-1' from 'AA/A-1'. The long-term component of the rating is based on the underlying bonds (CUSIP #s: 646039LD7, 646039LH8, 646039LJ4, 646039LK1). The short-term component of the rating is based on the liquidity provided by Dexia Credit Local. USPF Criteria: Secondary Market Derivative Products, June 27, 2007...

Companies mentioned in this report are:
- New Jersey
- Merrill Lynch Put FLOATs/RITES tr ser PT-1000

Action: Downgraded

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 READ MORE >

- New Jersey
- Merrill Lynch Put FLOATs/RITES tr ser PT-1000

Note: Product cover images may vary from those shown

RELATED PRODUCTS