NEW YORK (S&P Global Ratings) June 2, 2016--S&P Global Ratings assigned 14 various ratings to seven FMSbonds Inc. tender option bond series 2016-ZF trust puttable floating-rate receipts (floaters) and inverse floating-rate receipts (residuals), respectively, related to various underlying bonds. The long-term components of the ratings on the floaters and the ratings on the residuals, except series 2016-ZF0443 and 2016-ZF0444, reflect the SPURs on the underlying bonds. For series 2016-ZF0443, the long-term component of the ratings reflect the higher of our ratings on the insurance provider, Assured Guaranty Municipal Corp., or the SPUR on the underlying bonds. For series 2016-ZF0444, the long-term component of the ratings reflect the higher of our ratings on the insurance provider, MBIA Insurance Corp., or the
