Fitch Rates Bank of America Merrill Lynch Taxable P-FLOATs Series TN-039

Fitch Ratings assigns a rating of ‘A/F1’, Outlook Stable to the series TN-039 puttable floating option taxable notes (Taxable P-FLOATs) of the Merrill Lynch Taxable P-FLOATs Series TN Trust BOA.

The long-term ‘A’, Stable Outlook rating assigned to the series TN-039 Taxable P-FLOATs is based on the series BOA-259 custodial receipts deposited in the Series TN-039 trust. The series BOA-259 custodial receipts evidence a beneficial ownership in the Forest City Residential Management, Inc. Taxable Notes, Series 2007 (not rated 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 ‘F1’ short-term rating assigned to the Taxable P-FLOATs is based on the liquidity facility provided by Bank of America. The short-term rating will expire on Nov. 15, 2013, unless such date is extended or earlier terminated.

Applicable Criteria and Related Research:

–‘U.S. Municipal Structured Finance Criteria’, Feb. 28, 2012;

–‘Guidelines for Rating Tender Option Bonds’, May 10, 2012.

Applicable Criteria and Related Research:

U.S. Municipal Structured Finance Criteria

Guidelines for Rating Tender Option Bonds