Standard&Poor's Ratings Services raised the long-term component of its rating on Societe Generale Municipal Securities Trust Receipts Series 2000 SGA 90 relating to Seattle, Wash. water and system revenue bonds series 1999B, to 'AAA' from 'AA'. This action follows Standard&Poor's upgrade of the underlying bonds to 'AAA' from 'AA', reflecting the investment of the escrow fund in noncallable U.S. government obligations. In the future, the long-term component of the rating of the trust should track the prerefunded rating regardless of any changes to the rating of the bond insurer that provides an insurance policy for the underlying bonds. The long-term component of the rating is based on the underlying bonds, and the short-term component of the rating is based on
