Standard&Poor's Ratings Services assigned its 'AAA/A-1' and 'AAA' ratings to Morgan Stanley&Co. Inc. Taxable Trust 's notes and residual certificates series 2010-B004, respectively, relating to New York State Dormitory Authority's personal income tax revenue bonds (general purpose) series 2010D (federally taxable Build America Bonds) term bonds. The long-term component of the rating on the notes and residual certificates is based on the rating on the underlying bonds (AAA). The short-term component of the rating on the notes is based on the rating on Morgan Stanley Bank N.A., until Oct. 15, 2012. 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
