Standard&Poor's Ratings Services assigned its 'AA+/A-1' rating to Merrill Lynch Puttable FLOATs/RITES Trust series MT, puttable floating option tax-exempt receipts, series MT-655, relating to New Jersey Higher Education Student Assistance Authority's student loan revenue bonds, series 2010-FFELP (tax-exempt LIBOR floating rate bonds), class A-2. The long-term component of the rating is based on the 'AA+' rated, underlying bond. The short-term component of the rating is based on the liquidity facility provided by Bank of America. SEC Rule 17g-7 requires an NRSRO, for any report accompanying a credit rating relating to an asset-backed security as defined in the Rule, to include a description of the representations, warranties and enforcement mechanisms available to investors and a description of how they
