"Merrill Lynch Select Institutional Fund Rated AAAm" says S&P. The new Merrill Lynch Select Institutional Fund, which launched today (yielding 4.17% 1-day), is managed by BlackRock and requires a minimum of $10 million. S&P also recently downgraded volatility ratings on a number of offshore LIBOR-plus and enhanced cash funds, including: Barclays Global Investors US Dollar Enhanced LIBOR Bond Fund, Butterfield Liquid Reserve Fund Ltd., DWS ABS Fund, Lehman Brothers ABS Enhanced LIBOR Fund, and Morgan Stanley Funds PLC U.S. Dollar Enhanced Yield Fund.