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FMSbonds Inc. Series 2020-XF0865 Receipt Ratings Lowered To 'AA-/A-1' And 'AA-'

Published Oct 08, 2021

2 pages (1025 words) — Published Oct 08, 2021

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Abstract:

NEW YORK (S&P Global Ratings) Oct. 8, 2021--S&P Global Ratings corrected by lowering its long-term rating on FMSbonds Inc.'s series 2020-XF0865 trust's floater, residual, and custodial receipts to 'AA-/A-1'; 'AA-'; and 'AA-' from 'AA/A-1'; 'AA'; and 'AA', respectively. In January 2020, S&P Global Ratings issued a 'AA' long-term rating on the above-referenced receipts. Due to an error, we did not lower the rating on the receipts in a timely manner, which should have occurred when a new underlying bond was added to the trust on May 15, 2020.

Brief Excerpt:

...October 8, 2021 NEW YORK (S&P Global Ratings) Oct. 8, 2021--S&P Global Ratings corrected by lowering its long-term rating on FMSbonds Inc.'s series 2020-XF0865 trust's floater, residual, and custodial receipts to '##-/A-1'; '##-'; and '##-' from '##/A-1'; '##'; and '##', respectively. In January 2020, S&P Global Ratings issued a '##' long-term rating on the above-referenced receipts. Due to an error, we did not lower the rating on the receipts in a timely manner, which should have occurred when a new underlying bond was added to the trust on May 15, 2020....

Report Type:

Ratings Action

Issuer

Metropolitan Transportation Authority

Sector

Public Finance

Country

United States

Region

United States

Format:

PDF

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "FMSbonds Inc. Series 2020-XF0865 Receipt Ratings Lowered To 'AA-/A-1' And 'AA-'" Oct 08, 2021. Alacra Store. May 09, 2025. <http://www.alacrastore.com/s-and-p-credit-research/FMSbonds-Inc-Series-2020-XF0865-Receipt-Ratings-Lowered-To-AA-A-1-And-AA-2734369>

APA:	S&P Global Ratings’ Credit Research. (). FMSbonds Inc. Series 2020-XF0865 Receipt Ratings Lowered To 'AA-/A-1' And 'AA-' Oct 08, 2021. New York, NY: Alacra Store. Retrieved May 09, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/FMSbonds-Inc-Series-2020-XF0865-Receipt-Ratings-Lowered-To-AA-A-1-And-AA-2734369>

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