...November 9, 2022 NEW YORK (S&P Global Ratings) Nov. 9, 2022--S&P Global Ratings raised its ratings on FMSbonds Inc.'s series 2019-XF0761 tender-option-bond trust puttable-floating-rate receipts (floaters) and inverse-floating-rate receipts (residuals), related to Los Angeles Harbor Department's series 2016C revenue refunding 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 "Los Angeles Harbor Dept. Revenue Bond Rating Raised To '##+' From '##' On Strong Finances, Competitive Position," published Nov. 4, 2022, on RatingsDirect.) The long-term component of the rating 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...
