...April 10, 2026 ENGLEWOOD (S&P Global Ratings) April 10, 2026--S&P Global Ratings affirmed its '##/A-1' and '##' ratings on the floater and residual receipts (collectively, the receipts) following the replacement of the liquidity agreement with an option swap. Trust assets include all distributions of principal, interest, and premiums, if any, from the underlying securities and liquidity facility in the form of an option swap, which is in place to support tender payments on the floaters. The long-term component of our rating on the floaters reflects the ratings on the underlying securities and addresses full and timely interest-and-principal payments when certificateholders have not exercised the put option. The short-term component reflects the lower of our rating on the option swap provider or the short-term equivalent of our rating on the underlying security. The short-term rating addresses full and timely interest-and-principal payments when certificateholders exercise the put option....
