Standard&Poor's Ratings Services withdrew its rating outlook on Morgan Stanley&Co. Inc. Trust's floater and residual certificates series 2008-2554. This action follows Standard&Poor's Dec. 10, 2012, outlook revision of the underlying bonds to positive from stable. The long-term component of the rating on the floater and residual certificates is based on the rating on the underlying bonds (CUSIP #: 130795RG4). The short-term component of the rating on the floater certificates is based on the liquidity facility provided by Morgan Stanley Bank N.A. 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 description of the representations, warranties and enforcement
