Fitch Rates Bank of America Merrill Lynch P-FLOATs Series MT-663 and 682
March 15 2012 - 1:12PM
Business Wire
Fitch Ratings assigns the following ratings to the puttable
floating option tax-exempts receipts (P-FLOATs) of the Merrill
LynchP-FLOATs Series MT Trust BOA:
--Series MT-663 P-FLOATs 'A+/F1', Stable Outlook;--Series MT-682
P-FLOATs 'A/F1', Stable Outlook.
The long-term 'A+', Stable Outlook rating assigned to the series
MT-663 P-FLOATS is based on the series BOA-204 custodial receipts
deposited in the Series MT-663 trust. The series BOA-204 custodial
receipts evidence a beneficial ownership in Indiana Health Facility
Financing Authority Hospital Revenue Refunding Bonds, Series 1993
(Deaconess Hospital, Inc.) (rated 'A+', Stable Outlook by Fitch)
and are supported by custodial level credit enhancement in the form
of a swap agreement provided by Bank of America, National
Association (Bank of America, rated 'A/F1', Stable Outlook).
The long-term 'A', Stable Outlook rating assigned to the series
MT-682 P-FLOATS is based on the series BOA-216 custodial receipts
deposited in the Series MT-682 trust. The series BOA-216 custodial
receipts evidence a beneficial ownership in The Health and
Educational Facilities Board of the City of Johnson City, Tennessee
Hospital First Mortgage Revenue Bonds, Series 2001A (Mountain
States Health Alliance) (rated 'BBB+', Stable Outlook) and are
supported by custodial level credit enhancement in the form of a
swap agreement provided by Bank of America.
The 'F1' short-term rating assigned to each of the
above-referenced series P-FLOATs is based on the liquidity facility
provided by Bank of America. The short-term ratings will expire on
Sept. 15, 2012 for series MT-663 and Jan. 15, 2013 for series
MT-682, unless each date is extended or on any prior termination of
the liquidity facilities.
Additional information is available at www.fitchratings.com. The
ratings above were solicited by, or on behalf of, the issuer, and
therefore, Fitch has been compensated for the provision of the
ratings.
Applicable criteria and related Research--'U.S. Municipal
Structured Finance Rating Criteria', Feb. 28, 2012;--'Guidelines
for Rating Tender Option Bond Securities', May 25, 2011.
Applicable Criteria and Related Research:U.S. Municipal
Structured Finance
Criteriahttp://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=672570Guidelines
for Rating Tender Option Bond
Securitieshttp://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=632790
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