FMSbonds Inc. Series 2024-ZF1773 Receipts Ratings Raised To 'AAA/A-1+', 'AAA', And 'AAA'

ENGLEWOOD (S&P Global Ratings) Jan. 10, 2025--S&P Global Ratings raised the long-term rating components on FMSbonds Inc.'s series 2024-ZF1773 tender-option bond trust floater; residual; and custodial receipts, related to San Francisco City&County Airport Commission's (San Francisco International Airport) series 2017A second series revenue bonds (alternative-minimum tax), to 'AAA/A-1+'; 'AAA'; and 'AAA' from 'AA+/A-1+'; 'AA+'; and 'AA+', respectively. This rating action follows S&P Global Ratings' raising its rating on the underlying bonds. (For further information, see "San Francisco International Airport Revenue Bond Rating Raised To 'AA-' On Traffic Recovery, Financial Performance," published Jan. 7, 2025, on RatingsDirect.) The long-term rating on the custody receipts jointly reflects, assuming low correlation, the ratings on the underlying securities and credit-enhancement provider. The

...January 10, 2025 ENGLEWOOD (S&P Global Ratings) Jan. 10, 2025--S&P Global Ratings raised the long-term rating components on FMSbonds Inc.'s series 2024-ZF1773 tender-option bond trust floater; residual; and custodial receipts, related to San Francisco City & County Airport Commission's (San Francisco International Airport) series 2017A second series revenue bonds (alternative-minimum tax), to '###/A-1+'; '###'; and '###' from '##+/A-1+'; '##+'; and '##+', respectively. This rating action follows S&P Global Ratings' raising its rating on the underlying bonds. (For further information, see "San Francisco International Airport Revenue Bond Rating Raised To '##-' On Traffic Recovery, Financial Performance," published Jan. 7, 2025, on RatingsDirect.) The long-term rating on the custody receipts jointly reflects, assuming low correlation, the ratings on the underlying securities and credit-enhancement provider. The long-term component of the ratings on the floaters and the rating on the residuals...

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