|
|
Article: Fitch Downgrades L-T Component of Rating on Merrill Lynch P-FLOATs Series MT-317 to 'AA-'.
- Article from:
- Investment Weekly News
- Article date:
- August 29, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Fitch Ratings downgrades the long-term component of the rating assigned to Merrill Lynch P-FLOATs series MT-317 in connection with the substitution of the guarantee (BH Guarantee) currently provided by Berkshire Hathaway, Inc. (rated 'AA+' by Fitch) with a guarantee (ML Guarantee) provided by Merrill Lynch & Co., Inc. (Merrill Lynch; rated 'A+/F1+' by Fitch), securing the obligations of Merrill Lynch Capital Services, Inc. (MLCS) pursuant to a credit enhancement between Deutsche Bank Trust Company Americas, as custodian, and MLCS.
Effective Aug. 6, 2009, the BH Guarantee will be replaced by the ML Guarantee, and the long-term component of the rating will be ...