...December 1, 2023 NEW YORK (S&P Global Ratings) Dec. 1, 2023--S&P Global Ratings placed the long-term components of its '##-/A-1' and '##-' ratings 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, on CreditWatch with negative implications. This rating action follows S&P Global Ratings' placement of its ratings on the underlying bonds on CreditWatch with negative implications. (For further information, see "Novant Health, NC Bond Rating Placed On CreditWatch Negative Due To Purchase Agreement, Borrowing Plans," published Nov. 22, 2023, on RatingsDirect.) The long-term component of the ratings on the floaters and the ratings on the residuals reflects 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....
