NEW YORK (Standard&Poor's) Nov. 29, 2007--Standard&Poor's Ratings Services has reviewed an amendment dated Nov. 30, 2007 amending the master trust agreements and master terms of trust agreement for the Morgan Stanley&Co. Incorporated Municipal Trust Certificates 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 outstanding series of floater and residual certficates. The amendment changes Section 5.1(a) of the master terms to clarify that if a principal credit source is identified in a series trust agreement, then an act of bankruptcy of both the bond issuer (or underlying obligor) and the principal credit source would have to occur
