...July 21, 2025 CHICAGO (S&P Global Ratings) July 21, 2025--S&P Global Ratings lowered its long-term rating component on Barclays Capital Inc.'s series 2022-015 tender-option bond trust floater and custodial receipts, related to California Health Facilities Financing Authority's revenue bonds to '##/A-1' and '##' from '##+/A-1' and '##+', respectively. This rating action follows S&P Global Ratings' action on the underlying bonds. (For further information, see "City of Hope, CA Debt Rating Lowered To 'A-' On Weaker-Than-Expected Operations At Newer Affiliates," July 16, 2025.) The long-term rating on the custody receipts jointly reflects, assuming low correlation, the ratings on the underlying securities and the credit-enhancement provider. The long-term component of the ratings on the floater reflects the rating on the custodial receipts and addresses full and timely interest-and-principal payments when receipt holders have not exercised the put option. The short-term component reflects the...
