FMSbonds Inc. Series 2022-XF1352 Receipt Ratings Lowered To 'A+/A-1', 'A+'

NEW YORK (S&P Global Ratings) April 12, 2024--S&P Global Ratings lowered its rating on FMSbonds Inc.'s series 2022-XF1352 tender-option-bond trust floater and residual receipts, related to North Carolina Medical Care Commission's series 2019A health care facilities revenue bonds, to 'A+/A-1' and 'A+' from 'AA-/A-1' and 'AA-', respectively, and removed them from CreditWatch with negative implications where S&P Global Ratings placed the ratings on Dec. 1, 2023. This rating action follows S&P Global Ratings' action on the underlying bonds. (For further information, see "Novant Health, NC Bond Rating Lowered To 'A+' On Weakened Debt Metrics Following Tenet Acquisition; Outlook Is Stable," published April 4, 2024, on RatingsDirect.) The long-term component of the rating on the floaters and the rating on the

...April 12, 2024 NEW YORK (S&P Global Ratings) April 12, 2024--S&P Global Ratings lowered its rating on FMSbonds Inc.'s series 2022-XF1352 tender-option-bond trust floater and residual receipts, related to North Carolina Medical Care Commission's series 2019A health care facilities revenue bonds, to 'A+/A-1' and 'A+' from '##-/A-1' and '##-', respectively, and removed them from CreditWatch with negative implications where S&P Global Ratings placed the ratings on Dec. 1, 2023. This rating action follows S&P Global Ratings' action on the underlying bonds. (For further information, see "Novant Health, NC Bond Rating Lowered To 'A+' On Weakened Debt Metrics Following Tenet Acquisition; Outlook Is Stable," published April 4, 2024, 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...

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