A B757-200 WAS DISPATCHED WITH THE AUTOTHROTTLES DEFERRED AS INOP BUT WAS NOT PLACARDED IN ACCORDANCE WITH THE MEL.

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INBOUND CREW WROTE UP THAT AUTOTHROTTLES HAD DISCONNECTED DURING FLT; BUT THAT WHEN RE-ENGAGED; ALL MODES OF THE SYS WORKED NORMALLY. MAINT BALANCING ENTRY STATED THAT THE AUTOTHROTTLE SYS WAS BEING PLACARDED IN ACCORDANCE WITH MEL XX. THE NOTE ASSOCIATED WITH MEL STATES THAT ANY MODE THAT FUNCTIONS NORMALLY MAY BE USED. IF INOP; SET LMP STATUS INDICATOR IN ACCORDANCE WITH LMP CHKLIST. NO INOP PLACARDS HAD BEEN AFFIXED TO ANY INDIVIDUAL COMPONENTS OF THE THRUST MGMNT SYS; AND THE LMP STATUS HAD NOT BEEN DOWNGRADED BY MAINT. THE CREW'S WRITE UP STATED THAT ALL MODES OF THE AUTOTHROTTLE SYS WORKED NORMALLY. WE OPERATED THE FLT AND EXPERIENCED NORMAL OPS OF THE AUTOTHROTTLE SYS IN ALL MODES. UPON ARR AT XYZ; I ASKED FOR A MAINT DEBRIEF TO ENSURE THAT THE ACFT WAS PROPERLY PLACARDED; AND ALSO TO DISCUSS THE LMP STATUS SHOULD HAVE BEEN DOWNGRADED. AN INFO TO MAINT LOG ENTRY WAS ALSO MADE STATING THAT THE AUTOTHROTTLE SYS HAD FUNCTIONED NORMALLY DURING OUR FLT. AFTER DISCUSSIONS WITH MAINT PERSONNEL AND A CLOSER LOOK AT MEL; IT HAS BECOME APPARENT THAT THE LMP STATUS PROBABLY SHOULD HAVE BEEN DOWNGRADED AS PART OF THE MAINT ACTION ASSOCIATED WITH THIS MEL PLACARD. MY INITIAL LOOK AT THE MEL AND INTERP OF NOTE PERMITTING THE USE OF NORMALLY FUNCTIONING COMPONENTS OF THE SYS SATISFIED ME THAT WE WERE A LEGAL AND SAFE OP.