Merrill Lynch Puttable FLOATs/RITES Trust puttable floating option tax-exempt receipts series PT-764, relating to Austin combined utility system revenue refunding bonds series 1993, are rated 'AAA/A-1'. The long-term component of the rating is based on the MBIA-insured underlying bond. The short-term component of the rating is based on a liquidity LOC guarantee from Svenska Handelsbanken, and the expiration date of the liquidity facility is April 15, 2004