Standard&Poor's Ratings Services assigned its 'AA/A-1+' and 'AA' ratings to UBS Securities LLC custodial residual and variable securities (CRVS) series 2007-35, respectively. The long-term component of the rating is based on the 'AA' rated Minnesota Housing Finance Agency limited obligation bonds draw-down series 2007-2. The short-term component of the rating is based on a standby purchase agreement provided by BNP Paribas (A-1+) that is scheduled to expire on Oct. 15, 2008. The floater CRVS holders' ability to receive the purchase price from the liquidity provider may terminate without notice under certain conditions set forth in the documents. The short-term portion of the rating does not apply to any residual CRVS.
