NEW YORK (S&P Global Ratings) Sept. 14, 2018--S&P Global Ratings lowered its ratings on FMSbonds Inc.'s 2017-XF2484 tender-option bond trust series puttable floating-rate receipts (floaters) and inverse-floating-rate receipts (residuals) to 'A-/A-2' and 'A-' from 'AA-/A-1' and 'AA-', respectively. This rating action follows S&P Global Ratings' action on the underlying bonds, FMSbonds Inc. 2017-XF2484. (For further information, please see the article, titled "Kentucky Turnpike Authority Economic Development Road Revenue Bond Rating Lowered To 'A-' On Application Of Criteria," published Aug. 29, 2018, on RatingsDirect.) The long-term component of the rating on the floaters and the rating on the residuals reflect the ratings on the underlying bonds and our expectation of the likelihood of bondholders receiving interest and principal payments when due
