FMSbonds Inc. And Mesirow Financial Inc. 22 Receipts Ratings Raised To 'AA/A-1', 'AA'

CHICAGO (S&P Global Ratings) Oct. 18, 2023--S&P Global Ratings raised its long-term ratings on 22 FMSbonds Inc.'s and Mesirow Financial Inc.'s tender-option-bond trust receipts, related to various Metropolitan Transportation Authority, N.Y. underlying bonds, to 'AA/A-1' and 'AA' from 'AA-/A-1' and 'AA-', respectively. This rating action follows S&P Global Ratings' raising of the rating on the underlying bonds. (For further information, see "Various Metropolitan Transportation Authority Bonds Upgraded On Improving Ridership And Essentiality Of System," published Oct. 3, 2023, on RatingsDirect.) The long-term rating on the custodials jointly reflects the rating on the underlying bonds and credit enhancement provided by the credit provider at the correlation level noted in the table. The long-term component of the rating on the floaters and

...This rating action follows S&P Global Ratings' raising of the rating on the underlying bonds. (For further information, see "Various Metropolitan Transportation Authority Bonds Upgraded On Improving Ridership And Essentiality Of System," published Oct. 3, 2023, on RatingsDirect.) The long-term rating on the custodials jointly reflects the rating on the underlying bonds and credit enhancement provided by the credit provider at the correlation level noted in the table. The long-term component of the rating on the floaters and the ratings on the residuals reflect the ratings on the custodials and S&P Global Ratings' expectation of the likelihood of bondholders...

Ratings Action