12 Merrill Lynch Auction Preferred Pass-Through Trust Certificate Ratings Raised To #BBB-#

Stocks and Financial Services Press Releases Friday December 29, 2017 08:35
NEW YORK--29 Dec--S&P Global Ratings
NEW YORK (S&P Global Ratings) Dec. 28, 2017--S&P Global Ratings raised its ratings on 12 Merrill Lynch Auction Preferred Pass-Through Trust auction pass-through certificates to 'BBB-'.

This rating action follows S&P Global Ratings' action on the underlying bonds. The long-term ratings were raised on Nov. 22, 2017. (Please see the article, titled "Bank of America Corp. Long-Term Rating Raised To 'A-' On Lower Risk; Outlook Stable," published on RatingsDirect.) The ratings on the certificates reflect the ratings on the underlying bonds, as well as our expectation of the likelihood of bondholders receiving interest and principal payments when due.

Changes to the ratings on these bonds could result from, among other things, changes to the ratings on the underlying bonds or support provider, the expiration or termination of the support agreements, or the amendments to the transactions' terms. Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at www.standardandpoors.com for further information.

Complete ratings information is available to subscribers of RatingsDirect at www.capitaliq.com. All ratings affected by this rating action can be found on the S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.

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