Summary: Merrill Lynch Puttable FLOATs/RITES Trust Series PT-1531 Florida State Mid-Bay Bridge Authority

Florida State Mid-Bay Bridge Authority Primary Credit Analysts: Chi W Tang, New York, (1) 212-438-7989; chi.tang@standardandpoors.com Guyna G Johnson, Chicago, (1) 312-233-7008 The Merrill Lynch Puttable FLOATs/RITES Trust puttable floating option tax-exempt receipts series PT-1531, relating to Florida State Mid-Bay Bridge Authority revenue bonds series 1991A, is rated 'AAA/A-1+'. The long-term component of the rating is based on the AMBAC-insured underlying bond. The short-term component of the rating is based on a liquidity guarantee from Westdeutsche Landesbank Girozentrale, and the expiration date of the liquidity facility is Sept. 15, 2003. The Merrill Lynch Puttable FLOATs/RITES Trust residual interest tax-exempt securities receipts series PT-1531, relating to Florida State Mid-Bay Bridge Authority revenue bonds series 1991A, is rated 'AAA'. The long-term component

...The Merrill Lynch Puttable FLOATs/RITES Trust puttable floating option tax-exempt receipts series PT-1531, relating to Florida State Mid-Bay Bridge Authority revenue bonds series 1991A, is rated '###/A-1+'. The long-term component of the rating is based on the AMBAC-insured underlying bond. The short-term component of the rating is based on a liquidity guarantee from Westdeutsche Landesbank Girozentrale, and the expiration date of the liquidity facility is Sept. 15, 2003. The Merrill Lynch Puttable FLOATs/RITES Trust residual interest tax-exempt securities receipts series PT-1531, relating to Florida State Mid-Bay Bridge Authority revenue bonds series 1991A, is rated '###'. The long-term component of the rating is based on the AMBAC-insured underlying bond....

Summary