Standard&Poor's Ratings Services assigned its 'AAA/A-1+' rating to the Societe Generale Municipal Securities Trust Receipts, series 2007 SGC 10, relating to Sacramento County Sanitation Districts Financing Authority, Calif.'s refunding revenue bonds, series 2007 (Sacramento Regional County Sanitation District). The long-term component of the rating is based on the FGIC-insured underlying bonds. The underlying bonds bear interest at a variable rate, and the trust has been structured to handle the interest rate reset risk. The short-term component of the rating is based on a liquidity facility provided by Societe Generale that expires on Sept. 1, 2008.
