Morgan Stanley&Co. Inc. Trust floater certificates series 2006-1530, relating to Williamson County, Texas unlimited tax refunding bonds series 2006, are rated 'AAA/A-1'. The long-term component of the rating is based on the FSA-insured underlying bond. The short-term component of the rating is based on a guarantee provided by Morgan Stanley and a liquidity facility provided by Morgan Stanley Municipal Funding Inc. until Nov. 15, 2007. Morgan Stanley&Co. Inc. Trust residual certificates series 2006-1530, relating to Williamson County, Texas unlimited tax refunding bonds series 2006, are rated 'AAA'. The rating is based on the FSA-insured underlying bond. The stable outlook is based on the outlook of the bond insurer.
