Fitch warns of downgrades on prepaid gas bonds

Fitch Ratings said it placed four prepaid gas revenue bond transactions from three issuers on Rating Watch negative, following the same placement for Merrill Lynch & Co., Inc., and its subsidiaries, including Merrill Lynch Commodities, Inc., the gas supplier and remarketer in the transactions.

The affected notes, all rated A+, include Main Street Natural Gas, Inc., series 2006B and series 2007A gas project revenue bonds; series 2007A Roseville Natural Gas Financing Authority gas revenue bonds and series 2007A and B Long Beach Bond Finance Authority natural gas purchase revenue bonds.

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