Morgan Stanley&Co. Inc. Trust floater certificates series 2006-2051, relating to Michigan State Housing Development Authority, single-family mortgage revenue bonds, fixed-rate bonds, 2007 series A, is rated 'AA+/A-1+'. The long-term component of the rating is based on the underlying bond. The short-term component of the rating is based on a guarantee provided by Morgan Stanley and liquidity facility provided by Morgan Stanley Municipal Funding Inc. until Sept. 5, 2008. Morgan Stanley&Co. Inc. Trust residual certificates series 2006-2051, relating to Michigan State Housing Development Authority, single-family mortgage revenue bonds, fixed-rate bonds, 2007 series A, is rated 'AA+'. The rating is based on the underlying bond.
