NEW YORK (S&P Global Ratings) July 21, 2016--S&P Global Ratings assigned various ratings to 11 Mesirow Financial Inc. tender-option bond series trusts puttable floating-rate receipts (floaters) and inverse floating-rate receipts (residuals), respectively, related to various underlying bonds. The long-term components of the ratings on the floaters and the ratings on the residuals reflects the ratings on the underlying bonds. The short-term components of the ratings, which only applies to the floaters, reflects the liquidity agreement from JPMorgan Chase Bank N.A. The trusts are issued under the common document initiative using gross liquidity. For these transactions, Municipal Funding Services LLC is the trustor and Mesirow Financial Inc. is administrative agent. The receipts were formerly issued as floater and residual certificates under
