Standard&Poor's Ratings Services affirmed its 'A-1' short-term component of the rating on 19 Morgan Stanley&Co. Inc. Trust series. This affirmation is based on the substitution of the existing liquidity agreement provided by Morgan Stanley&Co. (A-1) with a liquidity agreement provided by Morgan Stanley Bank N.A. The short-term component of the rating is based on a liquidity facility provided by Morgan Stanley Bank N.A. (A-1). USPF Criteria: Secondary Market Derivative Products, June 27, 2007