Morgan Stanley&Co. Inc. Trust floater certificates series 2004-1004, relating to, Michigan State Hospital Finance Authority revenue bonds (Ascension Health Subordinate Credit Group) series 2005A, are rated 'AA-/A-1'. The long-term component of the rating is based on the underlying bond. The short-term component of the rating is based on a guarantee provided by Morgan Stanley and liquidity facility provided by Morgan Stanley Municipal Funding Inc. until Feb. 2, 2006. Morgan Stanley&Co. Inc. Trust residual certificates series 2004-1004A-C, relating to, Michigan State Hospital Finance Authority revenue bonds (Ascension Health Subordinate Credit Group) series 2005A, are rated 'AA-'. The rating is based on the underlying bond.