NEW YORK (S&P Global Ratings) Oct. 11, 2021--S&P Global Ratings affirmed its long-term ratings on four tender-option bond trust receipts, issued by FMSbonds Inc. (series 2018-ZF0211) and Mesirow Financial Inc. (series 2018-ZM0622), related to various underlying bonds, and removed them from CreditWatch with negative implications, where S&P Global Ratings placed them on March 15, 2021 (see the table). This rating action follows S&P Global Ratings' lowering of its ratings on the underlying bonds. (For further information, see the article, titled "San Antonio Electric And Gas System Debt Ratings Affirmed, Negative Outlook Assigned," published Oct. 5, 2021, on RatingsDirect.) The long-term component of the ratings on the floaters and the ratings on the residuals reflect the rating on the underlying bonds
