FMSbonds Inc. Series 2020-XF0982 Receipt Ratings Raised To 'AAA/A-1+', 'AAA'

NEW YORK (S&P Global Ratings) May 12, 2022--S&P Global Ratings raised its ratings on FMSbonds Inc.'s series 2020-XF0982 tender-option-bond trust floaters; residuals; and custodial receipts, related to The Port Authority of New York&New Jersey's underlying consolidated bonds, to 'AAA/A-1+', 'AAA', and 'AAA' from 'AA+/A-1+', 'AA+', and 'AA+', respectively. This rating action follows S&P Global Ratings' action on the underlying bonds rating. (For further information, see "Port Authority Of New York&New Jersey Bond Rating Raised To 'AA-' From 'A+' On Improved Enterprise Profile," published May 6, 2022, on RatingsDirect.) The long-term rating on the custody receipts jointly reflects, assuming low correlation, the ratings on the underlying securities and the credit-enhancement provider. The long-term component of the ratings

...May 12, 2022 NEW YORK (S&P Global Ratings) May 12, 2022--S&P Global Ratings raised its ratings on FMSbonds Inc.'s series 2020-XF0982 tender-option-bond trust floaters; residuals; and custodial receipts, related to The Port Authority of New York & New Jersey's underlying consolidated bonds, to '###/A-1+', '###', and '###' from '##+/A-1+', '##+', and '##+', respectively. This rating action follows S&P Global Ratings' action on the underlying bonds rating. (For further information, see "Port Authority Of New York & New Jersey Bond Rating Raised To '##-' From 'A+' On Improved Enterprise Profile," published May 6, 2022, on RatingsDirect.) The long-term rating on the custody receipts jointly reflects, assuming low correlation, the ratings on the underlying securities and the credit-enhancement provider. The long-term component of the ratings on the floaters and the rating on the residuals reflect the rating on the custodial receipts and addresses full and timely interest-and-principal payments...

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