Standard&Poor's Ratings Services assigned its 'A-1+' short-term rating to Merrill Lynch&Co. Inc.'s $44.80 million series 2008V term tender custodial receipts, related to Franklin County, Ohio's series 2003C-1 variable-rate revenue bonds, issued for Trinity Health, Mich. The 'A-1+' rating reflects Trinity Health's commitment to use its own liquidity if necessary to support expected irrevocable, unconditional tender offers of the underlying bonds on Dec. 4, 2008, for the bonds related to the series 2008V custodial receipts. If exercised, the proceeds of the tender will be used to retire the custodial receipts. The custodial receipts will be retired on the day after the auction from auction proceeds or the proceeds of the tender. In the event of a failed
