FMSbonds Inc. Series 2023-BAML8006 Floater And Custodial Receipts Ratings Lowered To 'AA/A-1', 'AA'

CHICAGO (S&P Global Ratings) Oct. 18, 2023--S&P Global Ratings lowered the long-term rating components on FMSbonds Inc.'s series 2023-BAML8006 tender-option-bond trust floater and custodial receipts, related to Louisiana Public Facilities Authority's series 2015 hospital revenue and refunding bonds, to 'AA/A-1' and 'AA' from 'AA+/A-1' and 'AA+', respectively. This rating action follows S&P Global Ratings' action on the underlying bonds. (For further information, see "Louisiana Children's Medical Center Obligated Group, LA Bond Ratings Cut To 'A' On Weaker Finances; Outlook Stable," published Oct. 12, 2023, 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 reflects the rating

...October 18, 2023 CHICAGO (S&P Global Ratings) Oct. 18, 2023--S&P Global Ratings lowered the long-term rating components on FMSbonds Inc.'s series 2023-BAML8006 tender-option-bond trust floater and custodial receipts, related to Louisiana Public Facilities Authority's series 2015 hospital revenue and 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 "Louisiana Children's Medical Center Obligated Group, LA Bond Ratings Cut To 'A' On Weaker Finances; Outlook Stable," published Oct. 12, 2023, 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 reflects the rating on the custodial receipts and addresses full and timely interest-and-principal payments when receipt holders...

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