Morgan Stanley&Co. Inc. Trust floater certificates series 2008-2494, relating to Pennsylvania Housing Finance Agency single family mortgage revenue bonds series 2007-100A, are rated 'AA+/A-1+'. 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 a guarantee provided by Morgan Stanley (AA-/Watch Neg/A-1+) and a liquidity facility provided by Morgan Stanley Municipal Funding Inc. until Feb. 27, 2009. Morgan Stanley&Co. Inc. Trust residual certificates series 2008-2494, relating to Pennsylvania Housing Finance Agency single family mortgage revenue bonds series 2007-100A, are rated 'AA+'. The rating is based on the 'AA+' rated underlying bond.
