NEW YORK (Standard&Poor's) Dec. 18, 2014--Standard&Poor's Ratings Services assigned the following ratings to various tender option bond series 2014-XF trust puttable floating-rate receipts (floaters) and inverse floating-rate receipts (residuals), issued by fmsbonds Inc.: For these transactions, fmsbonds Inc. is both the trustor and administrative agent, and JPMorgan Chase Bank N.A. is the liquidity provider. The receipts were formerly issued as puttable tax-exempt receipts (PUTTERs) and derivative inverse tax-exempt receipts (DRIVERs) under individual trusts issued by JPMorgan Securities PUTTERs&DRIVERs Trust. However, the CUSIPs associated with the PUTTERs and DRIVERs are being exchanged for new CUSIPs, and will be issued as receipts under new individual trusts issued by fmsbonds Inc. The exchange/conversion date is Dec. 18,
