Standard&Poor's Ratings Services raised its short-term rating on 14 Merrill Lynch Puttable FLOATS/RITES Trust series PA, puttable floating option tax-exempts receipts to 'A-1+' from 'A-1'. This action follows Standard&Poor's upgrade of Merrill Lynch&Co. Inc. rating to 'AA-/A-1+' from 'A+/A-1'.