...October 20, 2022 NEW YORK (S&P Global Ratings) Oct. 20, 2022--S&P Global Ratings raised its long-term ratings on three tender-option bond trust receipts for FMSbonds Inc. (series 2019-ZF2798) and Barclays Capital Inc. (series 2022-020 and 2022-021), related to various underlying bonds, to '##+/A-1' and '##+' from '##/A-1' and '##', respectively. This rating action follows S&P Global Ratings' raising its rating on the underlying bonds. (For further information, see "Massachusetts Housing Finance Agency Bond Rating Raised To '##+' From '##' On Credit Quality, Conservative Debt Profile," published Oct. 13, 2022, on RatingsDirect.) The long-term component of the ratings on the floaters and the rating on the residuals reflect the rating on the underlying bonds and S&P Global Ratings' expectation of the likelihood of bondholders receiving interest-and-principal payments when due if they do not exercise their put option. The short-term component of the ratings reflects the lower of S&P Global...
